Carmel Capital Partners LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Carmel Capital Partners LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 32.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,948 shares of the semiconductor manufacturer’s stock after buying an additional 2,946 shares during the quarter. Carmel Capital Partners LLC’s holdings in Micron Technology were worth $1,239,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Assetmark Inc. grew its holdings in Micron Technology by 34.8% in the third quarter. Assetmark Inc. now owns 32,792 shares of the semiconductor manufacturer’s stock worth $3,401,000 after purchasing an additional 8,464 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Micron Technology by 20.6% in the third quarter. Verdence Capital Advisors LLC now owns 111,654 shares of the semiconductor manufacturer’s stock worth $11,580,000 after purchasing an additional 19,084 shares during the last quarter. Beta Wealth Group Inc. grew its holdings in Micron Technology by 10.9% in the third quarter. Beta Wealth Group Inc. now owns 6,102 shares of the semiconductor manufacturer’s stock worth $633,000 after purchasing an additional 600 shares during the last quarter. Carson Advisory Inc. grew its holdings in Micron Technology by 40.5% in the third quarter. Carson Advisory Inc. now owns 8,453 shares of the semiconductor manufacturer’s stock worth $877,000 after purchasing an additional 2,436 shares during the last quarter. Finally, SpiderRock Advisors LLC grew its holdings in Micron Technology by 14.1% in the third quarter. SpiderRock Advisors LLC now owns 22,966 shares of the semiconductor manufacturer’s stock worth $2,382,000 after purchasing an additional 2,844 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated 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 $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MU shares. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Raymond James lifted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. China Renaissance started coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Down 1.3 %

MU opened at $111.90 on Friday. 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 fifty day moving average of $100.16 and a two-hundred day moving average of $113.12. The stock has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business 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 company’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.21) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 dividend on an annualized basis 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.