Valeo Financial Advisors LLC Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Valeo Financial Advisors LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,589 shares of the semiconductor manufacturer’s stock after buying an additional 272 shares during the period. Valeo Financial Advisors LLC’s holdings in Micron Technology were worth $994,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Micron Technology by 339.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,548 shares of the semiconductor manufacturer’s stock valued at $886,000 after purchasing an additional 6,601 shares in the last quarter. Castle Rock Wealth Management LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $991,000. Guild Investment Management Inc. grew its holdings in shares of Micron Technology by 739.7% in the 3rd quarter. Guild Investment Management Inc. now owns 40,715 shares of the semiconductor manufacturer’s stock worth $4,223,000 after acquiring an additional 35,866 shares during the period. Jessup Wealth Management Inc increased its stake in Micron Technology by 8.1% in the 3rd quarter. Jessup Wealth Management Inc now owns 60,895 shares of the semiconductor manufacturer’s stock valued at $6,315,000 after purchasing an additional 4,586 shares in the last quarter. Finally, Independence Bank of Kentucky raised its holdings in Micron Technology by 291.1% during the third quarter. Independence Bank of Kentucky now owns 8,451 shares of the semiconductor manufacturer’s stock worth $876,000 after purchasing an additional 6,290 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MU shares. Susquehanna lowered their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. UBS Group cut their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Rosenblatt Securities increased their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Piper Sandler lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’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 completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $106.92 on Monday. The firm has a market capitalization of $118.56 billion, a PE ratio of -75.30 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. 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 business has a 50-day moving average of $96.76 and a two-hundred day moving average of $114.85.

Micron Technology (NASDAQ:MU) last posted its quarterly 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. 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 analyst estimates of $7.65 billion. During the same quarter last year, the firm posted ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.