OneDigital Investment Advisors LLC Buys 2,600 Shares of Micron Technology, Inc. (NASDAQ:MU)

OneDigital Investment Advisors LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 12.8% during the third quarter, Holdings Channel reports. The institutional investor owned 22,979 shares of the semiconductor manufacturer’s stock after buying an additional 2,600 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Micron Technology were worth $2,383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sycomore Asset Management increased its position in shares of Micron Technology by 147.1% in the 3rd quarter. Sycomore Asset Management now owns 135,667 shares of the semiconductor manufacturer’s stock valued at $14,907,000 after acquiring an additional 80,758 shares during the period. ING Groep NV raised its position in Micron Technology by 14.1% during the third quarter. ING Groep NV now owns 1,026,809 shares of the semiconductor manufacturer’s stock valued at $106,490,000 after acquiring an additional 126,678 shares in the last quarter. Lifeworks Advisors LLC lifted its stake in shares of Micron Technology by 13.9% in the 3rd quarter. Lifeworks Advisors LLC now owns 2,206 shares of the semiconductor manufacturer’s stock valued at $229,000 after purchasing an additional 269 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Micron Technology by 4.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 30,857 shares of the semiconductor manufacturer’s stock worth $3,200,000 after acquiring an additional 1,404 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in Micron Technology by 0.8% during the third quarter. Metis Global Partners LLC now owns 42,036 shares of the semiconductor manufacturer’s stock worth $4,360,000 after purchasing an additional 346 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were 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 of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is owned by insiders.

Micron Technology Stock Down 2.9 %

Micron Technology stock opened at $96.34 on Friday. The company has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The stock has a 50-day simple moving average of $101.33 and a 200-day simple moving average of $112.72.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.21) earnings per share. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 annualized dividend and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MU shares. 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 research report on Wednesday, September 18th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. TD Cowen lifted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Bank of America upped their price target on Micron Technology from $110.00 to $125.00 and gave the stock 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 given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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.