Pine Valley Investments Ltd Liability Co Has $1.54 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Pine Valley Investments Ltd Liability Co increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 524.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,863 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,482 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Micron Technology were worth $1,541,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Ameritas Advisory Services LLC lifted its holdings in shares of 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 during the last quarter. Stonebrook Private Inc. lifted its stake in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares during the last quarter. LRI Investments LLC grew its position in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. E&G Advisors LP raised its holdings in shares of Micron Technology by 5.2% during the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after purchasing an additional 100 shares in the last quarter. Finally, John G Ullman & Associates Inc. lifted its stake in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after purchasing an additional 100 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU stock opened at $98.24 on Friday. The company has a 50 day moving average price of $103.64 and a 200 day moving average price of $109.95. The stock has a market capitalization of $109.44 billion, a PE ratio of 144.47 and a beta of 1.16. Micron Technology, Inc. has a fifty-two week low of $78.03 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The business 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 firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the business earned ($1.21) earnings per share. Analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Susquehanna decreased their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. TD Cowen lifted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Citigroup decreased their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Robert W. Baird dropped their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.

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.