Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,024 shares of the semiconductor manufacturer’s stock after buying an additional 2,339 shares during the period. First Trust Direct Indexing L.P.’s holdings in Micron Technology were worth $3,425,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MU. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the 1st quarter valued at about $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $28,000. Davis Capital Management purchased a new position in Micron Technology during the third quarter worth approximately $30,000. Finally, Richard W. Paul & Associates LLC boosted its stake in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU traded down $3.00 during trading on Wednesday, reaching $105.18. 4,155,677 shares of the stock were exchanged, compared to its average volume of 21,916,961. Micron Technology, Inc. has a 1 year low of $65.26 and a 1 year high of $157.54. The company has a market capitalization of $116.63 billion, a price-to-earnings ratio of -74.33 and a beta of 1.18. The business’s 50 day moving average price is $99.18 and its two-hundred day moving average price is $113.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the firm earned ($1.21) EPS. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MU shares. TD Cowen lifted their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Stifel Nicolaus dropped their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. UBS Group reduced their price target 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. Finally, Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. One investment 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.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.