Claro Advisors LLC Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Claro Advisors LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,436 shares of the semiconductor manufacturer’s stock after purchasing an additional 612 shares during the period. Claro Advisors LLC’s holdings in Micron Technology were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MU. Capital World Investors raised its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Capital International Investors increased its stake in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after acquiring an additional 3,315,988 shares during the period. Van ECK Associates Corp boosted its stake in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. Finally, Boston Partners boosted its stake in Micron Technology by 1.4% during the first quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after acquiring an additional 61,127 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $97.51 on Tuesday. The business’s fifty day moving average is $101.55 and its 200 day moving average is $112.64. 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 debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $108.11 billion, a PE ratio of 143.40 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted 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. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.21) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MU shares. Wells Fargo & Company lowered their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Stifel Nicolaus lowered their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Susquehanna cut their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Bank of America lifted their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Company 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.