Allworth Financial LP Has $704,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Allworth Financial LP lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.7% during the 3rd quarter, Holdings Channel reports. The firm owned 6,784 shares of the semiconductor manufacturer’s stock after purchasing an additional 872 shares during the quarter. Allworth Financial LP’s holdings in Micron Technology were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MU. Cromwell Holdings LLC grew its stake in Micron Technology by 5.9% in the 3rd quarter. Cromwell Holdings LLC now owns 3,519 shares of the semiconductor manufacturer’s stock valued at $365,000 after buying an additional 196 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in Micron Technology by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 8,568 shares of the semiconductor manufacturer’s stock valued at $889,000 after buying an additional 175 shares during the last quarter. Massachusetts Wealth Management acquired a new position in Micron Technology in the 3rd quarter valued at about $929,000. Mediolanum International Funds Ltd grew its stake in Micron Technology by 167.8% in the 3rd quarter. Mediolanum International Funds Ltd now owns 144,390 shares of the semiconductor manufacturer’s stock valued at $15,496,000 after buying an additional 90,482 shares during the last quarter. Finally, Court Place Advisors LLC bought a new stake in Micron Technology in the 3rd quarter valued at about $1,001,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 1.7 %

NASDAQ:MU opened at $108.18 on Wednesday. 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 stock has a market capitalization of $119.95 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. The firm has a fifty day simple moving average of $99.18 and a two-hundred day simple moving average of $113.58. Micron Technology, Inc. has a 12 month low of $65.17 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same period last year, the company posted ($1.21) earnings per share. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed 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 -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Robert W. Baird cut their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Morgan Stanley upped their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.04.

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.