Advisors Asset Management Inc. Has $584,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Advisors Asset Management Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,633 shares of the semiconductor manufacturer’s stock after selling 259 shares during the quarter. Advisors Asset Management Inc.’s holdings in Micron Technology were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology in the second quarter valued at $28,000. Davis Capital Management bought a new position in Micron Technology in the third quarter valued at $30,000. Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC grew its stake in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 3.5 %

Shares of NASDAQ:MU opened at $98.20 on Thursday. 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 company has a fifty day simple moving average of $103.28 and a 200 day simple moving average of $111.80. The firm has a market cap of $108.88 billion, a PE ratio of 144.41 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company 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 company’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.21) earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MU shares. Rosenblatt Securities raised their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Citigroup decreased their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Robert W. Baird cut their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Raymond James lifted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling at Micron Technology

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 stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.