J.W. Cole Advisors Inc. Purchases 3,290 Shares of Micron Technology, Inc. (NASDAQ:MU)

J.W. Cole Advisors Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 23.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,204 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,290 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Micron Technology were worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after buying an additional 1,681,815 shares during the last quarter. Capital World Investors raised its position in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Capital International Investors raised its position in shares of 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 last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Micron Technology by 6.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock valued at $1,063,580,000 after purchasing an additional 519,641 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $106.39 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $65.17 and a twelve month high of $157.54. The stock has a 50 day moving average of $99.18 and a two-hundred day moving average of $113.68. The stock has a market cap of $117.97 billion, a P/E ratio of -74.92 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend 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 Analysts Forecast Growth

Several equities analysts recently commented on MU shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Finally, Rosenblatt Securities increased their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling

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