Prime Capital Investment Advisors LLC Has $4.71 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Prime Capital Investment Advisors LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 21.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,403 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,026 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Micron Technology were worth $4,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Chartwell Investment Partners LLC increased its holdings in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after acquiring an additional 40,802 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after purchasing an additional 20,741 shares during the last quarter. Global X Japan Co. Ltd. raised its position in shares of Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares during the period. River Road Asset Management LLC lifted its stake in shares of Micron Technology by 9.1% in the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock worth $16,933,000 after buying an additional 13,573 shares during the last quarter. Finally, RWQ Financial Management Services Inc. bought a new stake in shares of Micron Technology during the 3rd quarter worth $1,270,000. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on MU shares. Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Wells Fargo & Company dropped their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

Shares of MU stock opened at $104.10 on Wednesday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The stock has a market capitalization of $115.42 billion, a PE ratio of 153.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock’s fifty day moving average is $100.41 and its 200-day moving average is $113.11.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) EPS. Equities research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.