Micron Technology, Inc. (NASDAQ:MU) Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,900 shares of the semiconductor manufacturer’s stock after selling 650 shares during the quarter. First Dallas Securities Inc.’s holdings in Micron Technology were worth $1,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MU. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new position in Micron Technology during the third quarter worth about $26,000. Richard W. Paul & Associates LLC raised its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. LRI Investments LLC boosted its position in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares in the last quarter. Finally, Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter worth $30,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MU. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. 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 research note on Tuesday, September 17th. Citigroup cut their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, China Renaissance assumed coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Performance

Shares of MU stock opened at $102.82 on Tuesday. The company has a market capitalization of $114.55 billion, a price-to-earnings ratio of 151.21 and a beta of 1.16. Micron Technology, Inc. has a 1-year low of $76.96 and a 1-year high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $103.64 and its 200-day simple moving average is $110.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the firm posted ($1.21) earnings per share. The firm’s revenue was up 93.3% on a year-over-year basis. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal 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. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

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.