Blankinship & Foster LLC Acquires Shares of 192,350 Micron Technology, Inc. (NASDAQ:MU)

Blankinship & Foster LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 192,350 shares of the semiconductor manufacturer’s stock, valued at approximately $19,949,000. Micron Technology makes up 3.3% of Blankinship & Foster LLC’s investment portfolio, making the stock its 7th largest position.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp boosted its stake in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares during the last quarter. Swedbank AB grew its holdings in shares of Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after buying an additional 2,187,460 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Micron Technology by 21.7% in the 3rd 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 valued at $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. State Street Corp lifted its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Wells Fargo & Company dropped their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. KeyCorp reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. TD Cowen raised their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Robert W. Baird reduced their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Performance

NASDAQ:MU traded down $1.51 during mid-day trading on Thursday, hitting $100.55. The stock had a trading volume of 1,717,011 shares, compared to its average volume of 21,217,008. Micron Technology, Inc. has a twelve month low of $78.03 and a twelve month high of $157.54. 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 market cap of $112.02 billion, a price-to-earnings ratio of 150.08 and a beta of 1.16. The company’s 50 day simple moving average is $103.64 and its 200 day simple moving average is $109.95.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping 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 company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the company posted ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share 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 given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date 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.