Cetera Investment Advisers Buys 59,707 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cetera Investment Advisers raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 30.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,256 shares of the semiconductor manufacturer’s stock after acquiring an additional 59,707 shares during the period. Cetera Investment Advisers’ holdings in Micron Technology were worth $33,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the second quarter valued at approximately $28,000. DecisionPoint Financial LLC bought a new position in Micron Technology in the 1st quarter valued at $25,000. Valued Wealth Advisors LLC boosted its stake in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC grew its holdings in shares of Micron Technology by 128.6% during the second 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. Finally, LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Micron Technology stock opened at $99.85 on Thursday. The company has a market capitalization of $110.72 billion, a price-to-earnings ratio of -70.32, a PEG ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The stock’s 50 day moving average is $96.91 and its 200-day moving average is $114.99.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’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) EPS. Equities research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on MU shares. Piper Sandler increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird lowered their price target 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. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. The Goldman Sachs Group increased their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, KeyCorp dropped their target price on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.23.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

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.