Sheaff Brock Investment Advisors LLC Buys 4,086 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sheaff Brock Investment Advisors LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,624 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,086 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Micron Technology were worth $2,969,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter valued at about $28,000. Highline Wealth Partners LLC bought a new stake in Micron Technology during the 3rd quarter worth about $26,000. Richard W. Paul & Associates LLC raised its position in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. LRI Investments LLC raised its position in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Finally, Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter valued at about $30,000. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MU. TD Cowen increased their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. UBS Group dropped their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Morgan Stanley upped their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Trading Down 0.9 %

MU opened at $98.28 on Friday. 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 twelve month low of $72.93 and a twelve month high of $157.54. The stock has a market capitalization of $108.97 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18. The company has a 50-day simple moving average of $100.93 and a 200 day simple moving average of $112.94.

Micron Technology (NASDAQ:MU) last issued 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 for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.21) EPS. Analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

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.