Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by KPP Advisory Services LLC

KPP Advisory Services LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 25.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,476 shares of the semiconductor manufacturer’s stock after purchasing an additional 700 shares during the quarter. KPP Advisory Services LLC’s holdings in Micron Technology were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. J. W. Coons Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $213,000. Rathbones Group PLC boosted its holdings in Micron Technology by 7.1% in the fourth quarter. Rathbones Group PLC now owns 5,254 shares of the semiconductor manufacturer’s stock valued at $448,000 after acquiring an additional 350 shares during the last quarter. Belpointe Asset Management LLC grew its position in Micron Technology by 62.3% during the fourth quarter. Belpointe Asset Management LLC now owns 6,363 shares of the semiconductor manufacturer’s stock valued at $543,000 after acquiring an additional 2,442 shares during the period. Blueshift Asset Management LLC acquired a new stake in Micron Technology during the fourth quarter worth about $298,000. Finally, Edge Capital Group LLC purchased a new position in shares of Micron Technology in the 4th quarter worth about $228,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MU. Bank of America increased their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. UBS Group decreased their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Stifel Nicolaus cut their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Rosenblatt Securities upped their target price on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.23.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $100.31 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $97.12 and its two-hundred day moving average price is $115.10. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54. The stock has a market capitalization of $111.23 billion, a P/E ratio of -70.64, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results 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. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the business posted ($1.21) EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

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.