Sanctuary Advisors LLC Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Sanctuary Advisors LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,572 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,235 shares during the quarter. Sanctuary Advisors LLC’s holdings in Micron Technology were worth $5,396,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new stake in Micron Technology in the 2nd quarter valued at approximately $28,000. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology during the third quarter valued at $26,000. Richard W. Paul & Associates LLC increased its position 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 worth $34,000 after purchasing an additional 144 shares in the last quarter. LRI Investments LLC raised its stake in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Davis Capital Management purchased a new position in Micron Technology in the 3rd quarter valued at about $30,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. China Renaissance assumed coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. KeyCorp reduced their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company lowered their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. 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’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

Micron Technology stock opened at $102.50 on Monday. 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 one year low of $78.63 and a one year high of $157.54. The stock’s 50 day moving average price is $103.58 and its 200 day moving average price is $109.37. The firm has a market capitalization of $114.19 billion, a PE ratio of 150.74 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its 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 business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.21) earnings per share. As a group, sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% 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.