Sunbelt Securities Inc. Acquires 292 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sunbelt Securities Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,260 shares of the semiconductor manufacturer’s stock after buying an additional 292 shares during the quarter. Sunbelt Securities Inc.’s holdings in Micron Technology were worth $131,000 at the end of the most recent quarter.

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

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 4.3 %

Micron Technology stock opened at $102.50 on Friday. Micron Technology, Inc. has a one year low of $78.63 and a one year high of $157.54. The business’s fifty day moving average is $103.58 and its 200 day moving average is $109.52. The stock has a market capitalization of $114.19 billion, a PE ratio of 150.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during 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 business’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.21) earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued 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 0.45%. Micron Technology’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Raymond James lifted their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. UBS Group decreased their price objective 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. KeyCorp cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.