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

Claro Advisors LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 377.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,483 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,659 shares during the quarter. Claro Advisors LLC’s holdings in Micron Technology were worth $1,398,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MU. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the 1st quarter worth about $25,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter worth about $28,000. Valued Wealth Advisors LLC raised its position in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Davis Capital Management purchased a new position in shares of Micron Technology during the third quarter valued at approximately $30,000. Finally, Richard W. Paul & Associates LLC boosted its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Down 0.8 %

NASDAQ MU opened at $111.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The business has a 50 day moving average price of $98.64 and a two-hundred day moving average price of $114.54. The stock has a market cap of $123.25 billion, a PE ratio of -78.27 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results 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. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Wells Fargo & Company dropped their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Wedbush reissued an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Stifel Nicolaus dropped their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, UBS Group cut their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $142.85.

About Micron Technology

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.