Quest Partners LLC Has $855,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

Quest Partners LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1,485.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,243 shares of the semiconductor manufacturer’s stock after buying an additional 7,723 shares during the period. Quest Partners LLC’s holdings in Micron Technology were worth $855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc raised its position in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares during the period. LRI Investments LLC raised its stake in Micron Technology by 57.2% in 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. Finally, E&G Advisors LP lifted its position in shares of Micron Technology by 5.2% in the second 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 during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 4.1 %

NASDAQ:MU opened at $102.43 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $102.23 and a 200-day simple moving average of $112.35. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a market capitalization of $113.57 billion, a P/E ratio of 150.63 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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the business posted ($1.21) EPS. The company’s revenue was up 93.3% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MU has been the topic of several research reports. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. TD Cowen boosted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird lowered their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. China Renaissance initiated coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, Rosenblatt Securities upped their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.