Stanley Laman Group Ltd. Acquires New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stanley Laman Group Ltd. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 33,028 shares of the semiconductor manufacturer’s stock, valued at approximately $3,425,000.

Several other large investors have also recently modified their holdings of MU. Riverview Trust Co bought a new position in shares of Micron Technology during the first quarter valued at $39,000. Sound Income Strategies LLC raised its stake in shares of Micron Technology by 40.3% during the first quarter. Sound Income Strategies LLC now owns 1,358 shares of the semiconductor manufacturer’s stock valued at $160,000 after acquiring an additional 390 shares during the last quarter. RMR Wealth Builders raised its stake in shares of Micron Technology by 11.6% during the first quarter. RMR Wealth Builders now owns 2,718 shares of the semiconductor manufacturer’s stock valued at $320,000 after acquiring an additional 283 shares during the last quarter. Sovereign Financial Group Inc. increased its position in shares of Micron Technology by 126.6% during the first quarter. Sovereign Financial Group Inc. now owns 5,863 shares of the semiconductor manufacturer’s stock worth $691,000 after buying an additional 3,276 shares during the period. Finally, Revolve Wealth Partners LLC increased its position in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MU. Susquehanna decreased their price objective 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. Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Stifel Nicolaus reduced their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, UBS Group reduced their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.85.

Micron Technology Stock Performance

Shares of MU stock opened at $107.82 on Wednesday. The firm has a market cap of $119.56 billion, a price-to-earnings ratio of -75.93 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 52 week low of $63.88 and a 52 week high of $157.54. The firm’s 50-day simple moving average is $99.14 and its two-hundred day simple moving average is $114.17.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. As a group, equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is -32.39%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

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.