Micron Technology, Inc. (NASDAQ:MU) Shares Bought by WealthPLAN Partners LLC

WealthPLAN Partners LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 75.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,433 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,475 shares during the period. WealthPLAN Partners LLC’s holdings in Micron Technology were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter valued at approximately $28,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Richard W. Paul & Associates LLC grew its holdings in shares of 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 acquiring an additional 144 shares during the period. Finally, DT Investment Partners LLC increased its stake in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MU. Rosenblatt Securities upped their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. TD Cowen increased their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Susquehanna cut their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Wells Fargo & Company dropped 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 note on Wednesday, September 18th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

Micron Technology stock opened at $104.10 on Wednesday. The firm has a fifty day moving average of $100.41 and a 200-day moving average of $113.11. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $115.42 billion, a P/E ratio of 153.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the company posted ($1.21) earnings per share. The firm’s revenue was up 93.3% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s payout ratio is currently 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.