Integrated Wealth Concepts LLC Has $4.67 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Integrated Wealth Concepts LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 14.4% in the third quarter, HoldingsChannel reports. The fund owned 45,044 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,678 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Micron Technology were worth $4,672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Swedbank AB boosted its position in shares of Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after buying an additional 2,187,460 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after buying an additional 1,323,352 shares during the last quarter. Finally, Caxton Associates LP boosted its position in shares of Micron Technology by 2,500.0% during the second quarter. Caxton Associates LP now owns 1,300,000 shares of the semiconductor manufacturer’s stock valued at $170,989,000 after buying an additional 1,250,000 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated 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 trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $103.20 on Thursday. 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 52-week low of $72.93 and a 52-week high of $157.54. The firm has a market cap of $114.97 billion, a price-to-earnings ratio of 151.77 and a beta of 1.16. The business’s fifty day moving average is $103.97 and its 200 day moving average is $110.88.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the company posted ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. Raymond James lifted their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Citigroup dropped their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Morgan Stanley lifted their price target on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Finally, UBS Group dropped their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.