Nwam LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Nwam LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 44.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,055 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,965 shares during the period. Nwam LLC’s holdings in Micron Technology were worth $1,665,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Icon Wealth Advisors LLC purchased a new stake in Micron Technology in the 3rd quarter worth approximately $18,036,000. Allen Capital Group LLC lifted its position in shares of Micron Technology by 3.8% during the 3rd quarter. Allen Capital Group LLC now owns 4,665 shares of the semiconductor manufacturer’s stock valued at $484,000 after buying an additional 171 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Micron Technology by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after buying an additional 65,591 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Micron Technology by 39.1% during the 3rd quarter. Banco Santander S.A. now owns 164,378 shares of the semiconductor manufacturer’s stock valued at $17,048,000 after buying an additional 46,203 shares in the last quarter. Finally, DE Burlo Group Inc. lifted its position in shares of Micron Technology by 143.4% during the 3rd quarter. DE Burlo Group Inc. now owns 335,825 shares of the semiconductor manufacturer’s stock valued at $34,828,000 after buying an additional 197,835 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MU. 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. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Raymond James raised their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Wells Fargo & Company cut their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Finally, TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $102.64 on Friday. The stock has a 50-day moving average of $102.46 and a two-hundred day moving average of $112.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company has a market cap of $113.80 billion, a P/E ratio of 150.94 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.21) EPS. As a group, analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

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.