Summit Trail Advisors LLC Has $1.75 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Summit Trail Advisors LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,857 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,768 shares during the quarter. Summit Trail Advisors LLC’s holdings in Micron Technology were worth $1,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology during the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology during the second quarter worth $28,000. Davis Capital Management bought a new stake in Micron Technology in the third quarter valued at $30,000. Richard W. Paul & Associates LLC boosted its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC increased 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 acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $102.64 on Monday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a fifty day simple moving average of $102.46 and a two-hundred day simple moving average of $112.13. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company 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 issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate 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 was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.21) EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Insider Buying and Selling at Micron Technology

In related 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 transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. UBS Group cut their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Robert W. Baird cut their price target 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. Finally, Stifel Nicolaus decreased 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 note on Thursday, September 19th. One research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.