Channing Global Advisors LLC Has $3.85 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Channing Global Advisors LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 42.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 45,708 shares of the semiconductor manufacturer’s stock after buying an additional 13,713 shares during the period. Micron Technology makes up approximately 2.6% of Channing Global Advisors LLC’s investment portfolio, making the stock its 13th largest position. Channing Global Advisors LLC’s holdings in Micron Technology were worth $3,847,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth about $26,000. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC raised its stake in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Stone House Investment Management LLC raised its stake in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares in the last quarter. Finally, Activest Wealth Management raised its stake in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $94.08 on Wednesday. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The firm has a market capitalization of $104.82 billion, a PE ratio of 27.11 and a beta of 1.18. The business’s 50 day moving average is $96.47 and its 200-day moving average is $98.77. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. Sell-side analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MU. JPMorgan Chase & Co. cut their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. TD Cowen cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Mizuho cut their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Robert W. Baird cut their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by 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.