Advisors Management Group Inc. ADV Purchases 24,114 Shares of Micron Technology, Inc. (NASDAQ:MU)

by · The Markets Daily

Advisors Management Group Inc. ADV grew its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 135.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 41,880 shares of the semiconductor manufacturer’s stock after acquiring an additional 24,114 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Micron Technology were worth $4,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Norden Group LLC lifted its holdings in shares of Micron Technology by 43.4% in the 1st quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock worth $420,000 after buying an additional 1,078 shares during the period. Csenge Advisory Group acquired a new stake in shares of Micron Technology in the first quarter worth $243,000. Manchester Capital Management LLC grew its stake in shares of Micron Technology by 5.2% during the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 104 shares during the period. Empirical Finance LLC raised its stake in shares of Micron Technology by 3.5% during the 1st quarter. Empirical Finance LLC now owns 39,659 shares of the semiconductor manufacturer’s stock worth $4,675,000 after buying an additional 1,338 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Micron Technology by 4.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 60,458 shares of the semiconductor manufacturer’s stock worth $7,127,000 after buying an additional 2,383 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’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 completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $111.83 on Thursday. 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’s 50 day moving average price is $99.49 and its 200 day moving average price is $113.09. The firm has a market cap of $123.99 billion, a P/E ratio of 164.46 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $71.71 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU – Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (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 business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the firm earned ($1.21) earnings per share. The business’s revenue was up 93.3% on a year-over-year basis. On average, sell-side analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal 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 $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MU shares. Stifel Nicolaus lowered their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Bank of America increased their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Rosenblatt Securities lifted their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Finally, KeyCorp decreased their price target 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

View Our Latest Report on Micron Technology

Micron Technology 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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