Appleton Partners Inc. MA Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Appleton Partners Inc. MA lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 156,356 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,042 shares during the quarter. Micron Technology makes up 1.2% of Appleton Partners Inc. MA’s holdings, making the stock its 19th largest position. Appleton Partners Inc. MA’s holdings in Micron Technology were worth $16,216,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at about $28,000. DecisionPoint Financial LLC purchased a new position in Micron Technology in the first quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the period. Richard W. Paul & Associates LLC boosted its stake 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 acquiring an additional 144 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $99.85 on Thursday. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company’s 50 day simple moving average is $96.91 and its 200 day simple moving average is $114.99. The stock has a market capitalization of $110.72 billion, a PE ratio of -70.32, a P/E/G ratio of 0.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. 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 company earned ($1.21) EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. KeyCorp lowered their price objective on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Wells Fargo & Company lowered their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $143.23.

Micron Technology 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.