Allen Capital Group LLC Has $484,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Allen Capital Group LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,665 shares of the semiconductor manufacturer’s stock after buying an additional 171 shares during the quarter. Allen Capital Group LLC’s holdings in Micron Technology were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Bessemer Group Inc. boosted its holdings in shares of Micron Technology by 2.8% in the first quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer’s stock valued at $1,489,000 after buying an additional 340 shares during the period. EntryPoint Capital LLC acquired a new position in Micron Technology during the first quarter worth $41,000. CreativeOne Wealth LLC boosted its holdings in Micron Technology by 22.3% during the first quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer’s stock worth $573,000 after purchasing an additional 886 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Micron Technology by 513.5% during the first quarter. Advisors Asset Management Inc. now owns 5,902 shares of the semiconductor manufacturer’s stock worth $696,000 after purchasing an additional 4,940 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Micron Technology during the first quarter worth $290,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MU shares. Bank of America increased their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird dropped their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Raymond James upped their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Rosenblatt Securities upped their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 0.1 %

Shares of Micron Technology stock opened at $102.64 on Friday. The firm’s 50-day moving average price is $102.46 and its two-hundred day moving average price is $112.23. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Micron Technology Company Profile

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.