Daiwa Securities Group Inc. Buys 13,035 Shares of Micron Technology, Inc. (NASDAQ:MU)

Daiwa Securities Group Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,851 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,035 shares during the period. Daiwa Securities Group Inc.’s holdings in Micron Technology were worth $23,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter valued at $28,000. Davis Capital Management acquired a new position in Micron Technology during the third quarter worth $30,000. Richard W. Paul & Associates LLC lifted its stake 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 buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MU. Raymond James increased their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Wells Fargo & Company cut their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Susquehanna lowered their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Finally, Stifel Nicolaus reduced their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Performance

Micron Technology stock opened at $102.64 on Monday. The firm’s fifty day moving average price is $102.46 and its 200-day moving average price is $112.13. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. 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 has a market cap of $113.80 billion, a P/E 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 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 net margin of 3.10% and a return on equity of 1.58%. The business’s revenue was up 93.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

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.