Avitas Wealth Management LLC Buys 6,219 Shares of Micron Technology, Inc. (NASDAQ:MU)

Avitas Wealth Management LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 34.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,416 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,219 shares during the period. Avitas Wealth Management LLC’s holdings in Micron Technology were worth $2,532,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Childress Capital Advisors LLC raised its stake in Micron Technology by 9.3% in the third quarter. Childress Capital Advisors LLC now owns 3,368 shares of the semiconductor manufacturer’s stock valued at $349,000 after buying an additional 287 shares during the period. Deltec Asset Management LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $3,122,000. Fidelis Capital Partners LLC raised its stake in Micron Technology by 2.4% in the 3rd quarter. Fidelis Capital Partners LLC now owns 14,536 shares of the semiconductor manufacturer’s stock valued at $1,527,000 after acquiring an additional 340 shares during the period. MONECO Advisors LLC lifted its holdings in Micron Technology by 3.9% during the 3rd quarter. MONECO Advisors LLC now owns 4,909 shares of the semiconductor manufacturer’s stock valued at $509,000 after purchasing an additional 183 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Micron Technology by 116.0% during the third quarter. Integrated Advisors Network LLC now owns 22,732 shares of the semiconductor manufacturer’s stock worth $2,358,000 after purchasing an additional 12,209 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. UBS Group dropped their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. BNP Paribas cut 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. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Wells Fargo & Company dropped their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was 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 $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $108.18 on Wednesday. The business has a fifty day simple moving average of $99.18 and a 200 day simple moving average of $113.58. The company has a market cap of $119.95 billion, a P/E ratio of -76.18 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 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.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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 business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.21) EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

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.