Micron Technology, Inc. (NASDAQ:MU) Stock Position Raised by IHT Wealth Management LLC

IHT Wealth Management LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,364 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,634 shares during the period. IHT Wealth Management LLC’s holdings in Micron Technology were worth $1,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Swedbank AB lifted its holdings in shares of Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after buying an additional 2,187,460 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after buying an additional 1,323,352 shares during the last quarter. Finally, Caxton Associates LP lifted its holdings in shares of Micron Technology by 2,500.0% during the second quarter. Caxton Associates LP now owns 1,300,000 shares of the semiconductor manufacturer’s stock worth $170,989,000 after buying an additional 1,250,000 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MU. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Robert W. Baird cut their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Citigroup cut their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Bank of America upped their target price on Micron Technology from $110.00 to $125.00 and gave the company a “buy” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Trading Up 3.4 %

NASDAQ:MU opened at $103.20 on Thursday. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54. The business’s 50-day moving average price is $103.97 and its two-hundred day moving average price is $110.88. 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 firm has a market capitalization of $114.97 billion, a price-to-earnings ratio of 151.77 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. The company’s quarterly revenue was up 93.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

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.