31,039 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,039 shares of the semiconductor manufacturer’s stock, valued at approximately $3,219,000.

A number of other large investors also recently made changes to their positions in MU. TBH Global Asset Management LLC bought a new position in Micron Technology during the 1st quarter valued at about $296,000. Beacon Investment Advisory Services Inc. raised its position in Micron Technology by 2.6% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 5,081 shares of the semiconductor manufacturer’s stock valued at $599,000 after buying an additional 130 shares during the last quarter. Nwam LLC boosted its position in Micron Technology by 50.0% during the first quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock valued at $1,144,000 after purchasing an additional 3,202 shares during the last quarter. Banco Santander S.A. increased its position in Micron Technology by 96.2% during the first quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock worth $11,176,000 after buying an additional 46,488 shares during the last quarter. Finally, M&G Plc acquired a new stake in Micron Technology during the first quarter worth approximately $15,172,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $99.92 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 stock has a 50 day moving average price of $100.72 and a 200 day moving average price of $113.03. The stock has a market capitalization of $110.79 billion, a PE ratio of 146.94 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping 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%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.21) EPS. Analysts predict that Micron Technology, Inc. will post 8.31 earnings per share 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 dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MU. TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. KeyCorp reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research 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-six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

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.