Bogart Wealth LLC Acquires 450 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bogart Wealth LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 323.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 589 shares of the semiconductor manufacturer’s stock after buying an additional 450 shares during the quarter. Bogart Wealth LLC’s holdings in Micron Technology were worth $61,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the 1st quarter worth $25,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $28,000. Valued Wealth Advisors LLC raised its holdings in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares in the last quarter. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter valued at $30,000. Finally, Richard W. Paul & Associates LLC increased 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 purchasing an additional 144 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 1.7 %

NASDAQ:MU opened at $106.85 on Friday. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The company has a market capitalization of $118.48 billion, a P/E ratio of -75.25 and a beta of 1.18. 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 firm has a fifty day simple moving average of $99.23 and a 200-day simple moving average of $114.10.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the company earned ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Susquehanna reduced their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Company 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.