Childress Capital Advisors LLC Acquires 287 Shares of Micron Technology, Inc. (NASDAQ:MU)

Childress Capital Advisors LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,368 shares of the semiconductor manufacturer’s stock after acquiring an additional 287 shares during the period. Childress Capital Advisors LLC’s holdings in Micron Technology were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology in the first quarter valued at $25,000. Richard W. Paul & Associates LLC raised its position in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the period. LRI Investments LLC boosted its holdings in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the period. Finally, Davis Capital Management acquired a new position in Micron Technology in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by company insiders.

Micron Technology Trading Up 1.7 %

Shares of MU stock opened at $108.18 on Wednesday. Micron Technology, Inc. has a twelve month low of $65.17 and a twelve month high of $157.54. The stock’s fifty day simple moving average is $99.18 and its 200 day simple moving average is $113.58. 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 firm has a market capitalization of $119.95 billion, a P/E ratio of -76.18 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.21) earnings per share. As a group, sell-side analysts predict 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 paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MU. Robert W. Baird reduced their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. KeyCorp reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, China Renaissance assumed coverage on shares of Micron Technology in a research report on Monday. They set a “buy” rating and a $148.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology 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.