Deroy & Devereaux Private Investment Counsel Inc. Has $25.01 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 61.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,147 shares of the semiconductor manufacturer’s stock after acquiring an additional 91,392 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Micron Technology were worth $25,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC raised its stake in shares of Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Global X Japan Co. Ltd. raised its stake in shares of Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the period. Chapin Davis Inc. bought a new stake in shares of Micron Technology during the 2nd quarter worth $4,056,000. Handelsbanken Fonder AB raised its stake in shares of Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after purchasing an additional 9,992 shares during the period. Finally, Kempner Capital Management Inc. raised its stake in shares of Micron Technology by 16.8% during the 3rd quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after purchasing an additional 13,581 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $99.65 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $65.26 and a fifty-two week high of $157.54. The stock has a 50 day moving average price of $99.01 and a two-hundred day moving average price of $113.42. The company has a market capitalization of $110.49 billion, a P/E ratio of 146.55 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced 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. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) earnings per share. Analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MU shares. Raymond James lifted their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. KeyCorp lowered their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Citigroup lowered their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird lowered their price objective 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. One equities 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.04.

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 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 completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

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.