Meeder Advisory Services Inc. Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Meeder Advisory Services Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,656 shares of the semiconductor manufacturer’s stock after buying an additional 462 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Micron Technology were worth $2,039,000 at the end of the most recent reporting period.

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

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $97.51 on Tuesday. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The business has a fifty day moving average of $101.55 and a two-hundred day moving average of $112.64. The stock has a market cap of $108.11 billion, a price-to-earnings ratio of 143.40 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (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 the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period last year, the company earned ($1.21) EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. China Renaissance assumed coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. Susquehanna dropped their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. One investment 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. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology 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.