Compass Wealth Management LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Compass Wealth Management LLC increased its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 92.9% in the third quarter, HoldingsChannel reports. The firm owned 2,700 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,300 shares during the quarter. Compass Wealth Management LLC’s holdings in Micron Technology were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Capital International Investors raised its stake in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Swedbank AB raised its stake in Micron Technology by 473.8% during the second 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 last quarter. 1832 Asset Management L.P. raised its stake in Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after buying an additional 1,809,000 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock valued at $892,023,000 after buying an additional 1,695,876 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $112.05 on Friday. The stock has a 50-day simple moving average of $98.28 and a two-hundred day simple moving average of $114.63. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week 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 firm has a market capitalization of $124.25 billion, a PE ratio of -78.91 and a beta of 1.18.

Micron Technology (NASDAQ:MU – Get Free Report) last announced 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 business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the business earned ($1.21) earnings per share. The business’s revenue was up 93.3% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology’s payout ratio is -32.39%.

Analyst Ratings Changes

A number of analysts have commented on MU shares. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Rosenblatt Securities lifted their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. Robert W. Baird reduced their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Finally, KeyCorp reduced their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Read Our Latest Stock Analysis on Micron Technology

Insider Activity

In other 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 value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

(Free Report)

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.

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