Lifeworks Advisors LLC Buys 269 Shares of Micron Technology, Inc. (NASDAQ:MU)

Lifeworks Advisors LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 13.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,206 shares of the semiconductor manufacturer’s stock after buying an additional 269 shares during the period. Lifeworks Advisors LLC’s holdings in Micron Technology were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MU. M&G Plc purchased a new position in shares of Micron Technology during the 1st quarter worth $15,172,000. Intech Investment Management LLC increased its position in Micron Technology by 6.5% in the first quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock worth $5,190,000 after buying an additional 2,701 shares in the last quarter. Alera Investment Advisors LLC bought a new position in shares of Micron Technology in the first quarter worth about $258,000. TIAA Trust National Association purchased a new position in shares of Micron Technology during the 1st quarter valued at about $327,000. Finally, Acadian Asset Management LLC grew its stake in shares of Micron Technology by 487.7% during the 1st quarter. Acadian Asset Management LLC now owns 132,882 shares of the semiconductor manufacturer’s stock valued at $15,660,000 after acquiring an additional 110,271 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $96.34 on Friday. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The firm has a market cap of $106.82 billion, a price-to-earnings ratio of 141.68 and a beta of 1.18. The business’s fifty day simple moving average is $101.13 and its two-hundred day simple moving average is $112.85. 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 (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate 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 was up 93.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.21) EPS. Analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business 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 0.48%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were 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. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MU. KeyCorp decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Wells Fargo & Company cut their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Bank of America upped their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, UBS Group reduced their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. One research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

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.