Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 38.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,283 shares of the semiconductor manufacturer’s stock after purchasing an additional 635 shares during the period. Crestwood Advisors Group LLC’s holdings in Micron Technology were worth $237,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its position in Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after purchasing an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. increased its stake in shares of Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after buying an additional 9,735 shares during the period. River Road Asset Management LLC raised its holdings in Micron Technology by 9.1% in the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after acquiring an additional 13,573 shares in the last quarter. Chapin Davis Inc. purchased a new position in Micron Technology in the second quarter worth approximately $4,056,000. Finally, RWQ Financial Management Services Inc. acquired a new position in Micron Technology during the 3rd quarter worth approximately $1,270,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company cut their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Citigroup cut their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. One research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $111.83 on Thursday. 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 stock has a market capitalization of $123.99 billion, a P/E ratio of 164.46 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $71.71 and a 1 year high of $157.54. The company’s fifty day moving average is $99.49 and its two-hundred day moving average is $113.09.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period last year, the company posted ($1.21) earnings per share. On average, 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 declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders 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 annualized dividend and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.