Modus Advisors LLC Invests $319,000 in Micron Technology, Inc. (NASDAQ:MU)

Modus Advisors LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,075 shares of the semiconductor manufacturer’s stock, valued at approximately $319,000.

A number of other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares during the period. Capital International Investors boosted its stake in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Swedbank AB grew its holdings in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after buying an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. increased its position in Micron Technology by 301,500.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after buying an additional 1,809,000 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after buying an additional 1,695,876 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MU. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. KeyCorp lowered their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. One 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 stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $142.85.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated 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 owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Up 4.0 %

Shares of NASDAQ:MU traded up $4.03 during midday trading on Thursday, hitting $105.73. 12,504,768 shares of the company’s stock were exchanged, compared to its average volume of 22,263,781. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The company has a market cap of $117.24 billion, a PE ratio of -73.13, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. The stock has a 50 day moving average price of $96.40 and a 200-day moving average price of $115.04.

Micron Technology (NASDAQ:MU) last announced its earnings results 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. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.