TrinityPoint Wealth LLC Buys 1,959 Shares of Micron Technology, Inc. (NASDAQ:MU)

TrinityPoint Wealth LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 57,986 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,959 shares during the quarter. Micron Technology makes up about 0.9% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 23rd biggest position. TrinityPoint Wealth LLC’s holdings in Micron Technology were worth $6,014,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares during the last quarter. Capital International Investors increased its holdings in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 purchasing an additional 2,477,985 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Micron Technology by 1.4% during the first quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after purchasing an additional 61,127 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Bank of America lifted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Rosenblatt Securities boosted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. China Renaissance began coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, Raymond James upped their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $96.34 on Monday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. 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 business has a 50 day moving average price of $101.33 and a 200-day moving average price of $112.74. The company has a market cap of $106.82 billion, a PE ratio of 141.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued 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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business earned ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed 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 0.48%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.