Soltis Investment Advisors LLC Acquires 161 Shares of Micron Technology, Inc. (NASDAQ:MU)

Soltis Investment Advisors LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,808 shares of the semiconductor manufacturer’s stock after purchasing an additional 161 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Micron Technology were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MU. Ameritas Advisory Services LLC raised its position in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. Stonebrook Private Inc. raised its holdings in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares in the last quarter. LRI Investments LLC lifted its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. E&G Advisors LP boosted its holdings in shares of Micron Technology by 5.2% during the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after buying an additional 100 shares in the last quarter. Finally, John G Ullman & Associates Inc. grew its position in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MU. Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Bank of America lifted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Stock Down 3.7 %

Micron Technology stock opened at $98.24 on Friday. Micron Technology, Inc. has a one year low of $78.03 and a one year high of $157.54. The stock has a fifty day moving average of $103.64 and a 200 day moving average of $109.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a market cap of $109.44 billion, a PE ratio of 144.47 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($1.21) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

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.