Crossmark Global Holdings Inc. increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,860 shares of the semiconductor manufacturer's stock after buying an additional 14,988 shares during the period. Crossmark Global Holdings Inc.'s holdings in Micron Technology were worth $19,690,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in Micron Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the 2nd quarter worth approximately $28,000. Davis Capital Management bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $30,000. Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC lifted its position in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 235 shares during the last quarter. 80.84% of the stock is owned by institutional investors.
Shares of NASDAQ:MU traded down $1.51 during trading on Friday, reaching $111.90. 13,045,721 shares of the company's stock traded hands, compared to its average volume of 17,080,670. 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, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The company has a 50-day simple moving average of $100.16 and a 200-day simple moving average of $113.12. The firm has a market cap of $124.07 billion, a PE ratio of 164.56 and a beta of 1.18.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm's revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) EPS. As a group, analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology's dividend payout ratio is presently 67.65%.
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on 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 owns 135,830 shares of the company's stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by insiders.
Several brokerages have commented on MU. BNP Paribas downgraded Micron Technology from an "outperform" rating to an "underperform" rating and cut their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Morgan Stanley raised their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 26th. Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Bank of America lifted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Robert W. Baird reduced their price objective on Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.04.
View Our Latest Stock Report on MU
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Micron Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list.
While Micron Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.