Wealth Enhancement Advisory Services LLC Has $32.99 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 321.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 318,110 shares of the semiconductor manufacturer’s stock after purchasing an additional 242,666 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Micron Technology were worth $32,991,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its position in shares of Micron Technology by 1.1% during the 1st 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 in the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the period. Chapin Davis Inc. bought a new stake in Micron Technology during the 2nd quarter valued at $4,056,000. Handelsbanken Fonder AB raised its holdings in Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after acquiring an additional 9,992 shares during the period. Finally, Kempner Capital Management Inc. raised its holdings in Micron Technology by 16.8% during the 3rd quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock valued at $9,769,000 after acquiring an additional 13,581 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Susquehanna lowered their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Finally, Rosenblatt Securities boosted 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Up 1.0 %

Shares of NASDAQ:MU opened at $107.91 on Monday. 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 firm has a market capitalization of $119.66 billion, a PE ratio of -75.99 and a beta of 1.18. The firm has a fifty day moving average of $99.22 and a 200 day moving average of $113.83. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54.

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 the consensus estimate of $0.97 by $0.21. The business 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 firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.21) earnings per share. As a group, 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 paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Micron Technology 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.