Blue Trust Inc. Purchases 3,878 Shares of Micron Technology, Inc. (NASDAQ:MU)

Blue Trust Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,154 shares of the semiconductor manufacturer’s stock after buying an additional 3,878 shares during the quarter. Blue Trust Inc.’s holdings in Micron Technology were worth $1,468,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MU. Generate Investment Management Ltd acquired a new position in shares of Micron Technology in the 3rd quarter worth approximately $21,606,000. Stratos Wealth Advisors LLC grew its position in Micron Technology by 32.0% in the third quarter. Stratos Wealth Advisors LLC now owns 8,004 shares of the semiconductor manufacturer’s stock valued at $830,000 after acquiring an additional 1,942 shares during the period. Richard W. Paul & Associates LLC raised its stake in Micron Technology by 4,028.5% during the third quarter. Richard W. Paul & Associates LLC now owns 10,569 shares of the semiconductor manufacturer’s stock worth $1,096,000 after acquiring an additional 10,313 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 7.3% during the third quarter. Aaron Wealth Advisors LLC now owns 6,167 shares of the semiconductor manufacturer’s stock valued at $640,000 after acquiring an additional 420 shares during the period. Finally, Claro Advisors LLC boosted its stake in shares of Micron Technology by 377.4% in the 3rd quarter. Claro Advisors LLC now owns 13,483 shares of the semiconductor manufacturer’s stock valued at $1,398,000 after purchasing an additional 10,659 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MU. Stifel Nicolaus dropped their target price 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. Piper Sandler boosted their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Finally, Susquehanna lowered their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Trading Down 0.8 %

NASDAQ MU opened at $111.15 on Friday. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The stock has a 50-day simple moving average of $98.64 and a 200 day simple moving average of $114.48. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $123.25 billion, a PE ratio of -78.27 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. 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 is -32.39%.

Insider Activity

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