Kestra Investment Management LLC Takes $338,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Kestra Investment Management LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,259 shares of the semiconductor manufacturer’s stock, valued at approximately $338,000.

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter valued at $28,000. Davis Capital Management bought a new stake in Micron Technology in the third quarter worth $30,000. True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the period. Finally, Richard W. Paul & Associates LLC increased its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their target price 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. Citigroup dropped their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Robert W. Baird cut their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was 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 in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $98.55 on Tuesday. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The business’s fifty day simple moving average is $103.60 and its 200-day simple moving average is $111.32. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $109.79 billion, a PE ratio of 144.93 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results 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. 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 in the prior year, the company posted ($1.21) EPS. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

About Micron Technology

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.