Stone House Investment Management LLC Has $34,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Stone House Investment Management LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 602.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 323 shares of the semiconductor manufacturer’s stock after acquiring an additional 277 shares during the quarter. Stone House Investment Management LLC’s holdings in Micron Technology were worth $34,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Highline Wealth Partners LLC acquired a new stake in Micron Technology in the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the second quarter valued at approximately $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $30,000. Richard W. Paul & Associates LLC boosted its stake in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. Finally, DT Investment Partners LLC increased its holdings in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’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. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MU. Bank of America raised their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Finally, TD Cowen upped their target price on Micron Technology from $115.00 to $135.00 and gave the company 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-six have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Price Performance

Shares of MU stock traded down $2.68 during trading hours on Wednesday, reaching $101.80. The company’s stock had a trading volume of 19,275,679 shares, compared to its average volume of 16,107,520. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The firm’s 50 day simple moving average is $103.07 and its 200-day simple moving average is $111.90. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $112.87 billion, a price-to-earnings ratio of 149.71 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates 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 was up 93.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. 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%.

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.