Raleigh Capital Management Inc. Has $121,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Raleigh Capital Management Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 107.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,168 shares of the semiconductor manufacturer’s stock after buying an additional 606 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Micron Technology were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MU. Riverview Trust Co bought a new stake in shares of Micron Technology in the first quarter valued at about $39,000. Sound Income Strategies LLC grew its holdings in shares of Micron Technology by 40.3% during the 1st quarter. Sound Income Strategies LLC now owns 1,358 shares of the semiconductor manufacturer’s stock worth $160,000 after purchasing an additional 390 shares in the last quarter. RMR Wealth Builders increased its position in shares of Micron Technology by 11.6% during the first quarter. RMR Wealth Builders now owns 2,718 shares of the semiconductor manufacturer’s stock valued at $320,000 after purchasing an additional 283 shares during the period. Sovereign Financial Group Inc. raised its stake in shares of Micron Technology by 126.6% in the first quarter. Sovereign Financial Group Inc. now owns 5,863 shares of the semiconductor manufacturer’s stock valued at $691,000 after purchasing an additional 3,276 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MU shares. TD Cowen increased their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group cut their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note 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. The Goldman Sachs Group raised their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James upped their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Shares of MU stock opened at $107.82 on Wednesday. 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 12 month low of $63.88 and a 12 month high of $157.54. The firm has a market cap of $119.56 billion, a price-to-earnings ratio of -75.93 and a beta of 1.18. The stock has a 50-day moving average price of $99.14 and a 200 day moving average price of $114.17.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping 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 business had revenue of $7.75 billion during 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. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. Research analysts expect 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 will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -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.