Allen Capital Group LLC Buys 171 Shares of Micron Technology, Inc. (NASDAQ:MU)

Allen Capital Group LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the third quarter, Holdings Channel reports. The fund owned 4,665 shares of the semiconductor manufacturer’s stock after acquiring an additional 171 shares during the quarter. Allen Capital Group LLC’s holdings in Micron Technology were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MU. Atria Investments Inc boosted its holdings in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the period. Aspect Partners LLC boosted its stake in Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the period. Ameritas Advisory Services LLC grew its holdings in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares in the last quarter. LRI Investments LLC grew its holdings in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares in the last quarter. Finally, E&G Advisors LP increased its position in shares of Micron Technology by 5.2% during the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

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

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. 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) EPS. As a group, analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

Analyst Ratings Changes

Several research analysts have commented on MU shares. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Morgan Stanley boosted their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Robert W. Baird lowered their price target 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, Citigroup cut their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by 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.