Ballast Inc. Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Ballast Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 2.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,552 shares of the semiconductor manufacturer’s stock after acquiring an additional 259 shares during the quarter. Ballast Inc.’s holdings in Micron Technology were worth $1,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MU. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter worth $25,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the second quarter valued at about $28,000. Valued Wealth Advisors LLC boosted its stake in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the period. Davis Capital Management bought a new position in Micron Technology during the third quarter valued at $30,000. Finally, Richard W. Paul & Associates LLC grew its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MU shares. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Rosenblatt Securities raised their target price 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. The Goldman Sachs Group boosted their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Robert W. Baird reduced their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Finally, Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $112.05 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The business’s 50 day moving average price is $98.28 and its 200 day moving average price is $114.63. The firm has a market cap of $124.25 billion, a P/E ratio of -78.91 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its 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 analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period last year, the company earned ($1.21) earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

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.