Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,999 shares of the semiconductor manufacturer’s stock after buying an additional 960 shares during the period. Sequoia Financial Advisors LLC’s holdings in Micron Technology were worth $3,734,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearbridge Investments LLC boosted its stake in shares of Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after buying an additional 20,741 shares during the period. Chapin Davis Inc. acquired a new stake in Micron Technology during the 2nd quarter worth approximately $4,056,000. Handelsbanken Fonder AB grew its stake in shares of Micron Technology by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after purchasing an additional 9,992 shares during the last quarter. Norden Group LLC increased its holdings in shares of Micron Technology by 1,916.7% in the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after purchasing an additional 47,648 shares during the period. Finally, Kempner Capital Management Inc. raised its stake in shares of Micron Technology by 16.8% during the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after purchasing an additional 13,581 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. 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 note on Thursday, September 26th. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Finally, TD Cowen raised their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $105.05 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The business’s fifty day moving average price is $99.23 and its two-hundred day moving average price is $114.10. The stock has a market cap of $116.48 billion, a PE ratio of -73.98 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54.

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 analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the company earned ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced 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 was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.44%. Micron Technology’s payout ratio is currently -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.