Sheaff Brock Investment Advisors LLC Acquires 4,086 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sheaff Brock Investment Advisors LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 16.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,624 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,086 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Micron Technology were worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Atria Investments Inc boosted its holdings in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares during the last quarter. Aspect Partners LLC grew its stake in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the period. Ameritas Advisory Services LLC raised its stake in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC boosted its stake in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the last quarter. Finally, E&G Advisors LP increased its position in Micron Technology by 5.2% in the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after buying an additional 100 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

Shares of MU stock opened at $98.28 on Friday. The firm has a fifty day simple moving average of $100.93 and a 200-day simple moving average of $112.94. The company has a market capitalization of $108.97 billion, a PE ratio of 145.86 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) 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. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’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 business earned ($1.21) EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s payout ratio is currently 67.65%.

Analyst Ratings Changes

Several research analysts have issued reports on MU shares. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. KeyCorp reduced 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. Wells Fargo & Company lowered their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

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.