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

Crestwood Advisors Group LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 38.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,283 shares of the semiconductor manufacturer’s stock after purchasing an additional 635 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Micron Technology were worth $237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MU. Clearbridge Investments LLC raised its holdings in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after buying an additional 20,741 shares during the period. Global X Japan Co. Ltd. raised its stake in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after acquiring an additional 9,735 shares during the period. River Road Asset Management LLC lifted its holdings in shares of Micron Technology by 9.1% during the 3rd 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. acquired a new position in shares of Micron Technology during the 2nd quarter valued at $4,056,000. Finally, RWQ Financial Management Services Inc. acquired a new stake in Micron Technology in the 3rd quarter valued at $1,270,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MU. China Renaissance assumed coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Raymond James boosted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

Shares of MU stock opened at $111.83 on Thursday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $99.49 and a two-hundred day moving average of $113.09. The company has a market cap of $123.99 billion, a P/E ratio of 164.46 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $71.71 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. 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 in the previous year, the firm posted ($1.21) EPS. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

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.