Fisher Asset Management LLC Has $5.23 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Fisher Asset Management LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,470 shares of the semiconductor manufacturer’s stock after buying an additional 3,069 shares during the quarter. Fisher Asset Management LLC’s holdings in Micron Technology were worth $5,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Highline Wealth Partners LLC acquired a new stake in Micron Technology in the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth approximately $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Richard W. Paul & Associates LLC grew its holdings 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 in the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 3.5 %

NASDAQ MU opened at $98.20 on Friday. The stock has a fifty day moving average of $103.46 and a 200-day moving average of $111.71. The stock has a market capitalization of $108.88 billion, a P/E ratio of 144.41 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. KeyCorp decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

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.