Integrated Advisors Network LLC Purchases 12,209 Shares of Micron Technology, Inc. (NASDAQ:MU)

Integrated Advisors Network LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 116.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,732 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,209 shares during the period. Integrated Advisors Network LLC’s holdings in Micron Technology were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC raised its position in Micron Technology by 26.3% during the 3rd quarter. Fortitude Family Office LLC now owns 7,305 shares of the semiconductor manufacturer’s stock worth $758,000 after purchasing an additional 1,523 shares during the last quarter. Deepwater Asset Management LLC increased its stake in shares of Micron Technology by 44.6% in the third quarter. Deepwater Asset Management LLC now owns 149,336 shares of the semiconductor manufacturer’s stock valued at $15,488,000 after buying an additional 46,032 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Micron Technology by 13.3% during the third quarter. Nisa Investment Advisors LLC now owns 304,849 shares of the semiconductor manufacturer’s stock worth $31,616,000 after acquiring an additional 35,867 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Micron Technology by 12.4% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,865 shares of the semiconductor manufacturer’s stock worth $297,000 after acquiring an additional 315 shares during the period. Finally, Gemmer Asset Management LLC bought a new stake in Micron Technology in the third quarter valued at approximately $2,417,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $108.18 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company has a fifty day moving average price of $99.18 and a 200-day moving average price of $113.58. Micron Technology, Inc. has a 1 year low of $65.17 and a 1 year high of $157.54. The firm has a market cap of $119.95 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted 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. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the business posted ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Wells Fargo & Company dropped 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. Susquehanna decreased their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were 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 in the company, 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. Insiders own 0.32% of the company’s stock.

About Micron Technology

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.