Calamos Advisors LLC Sells 10,046 Shares of Micron Technology, Inc. (NASDAQ:MU)

Calamos Advisors LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 493,701 shares of the semiconductor manufacturer’s stock after selling 10,046 shares during the period. Calamos Advisors LLC’s holdings in Micron Technology were worth $64,936,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Atria Investments Inc boosted its stake in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the period. Aspect Partners LLC boosted its position in Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the last quarter. LRI Investments LLC raised its position in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the period. Finally, Retirement Group LLC lifted its position in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. UBS Group cut their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Piper Sandler raised their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Raymond James boosted their price target on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, Robert W. Baird increased their target price on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $157.52.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,174 shares of company stock worth $8,635,073. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 1.4 %

Shares of NASDAQ:MU traded down $1.41 during trading on Friday, reaching $102.85. 24,535,168 shares of the stock were exchanged, compared to its average volume of 21,332,375. The firm has a market cap of $114.04 billion, a price-to-earnings ratio of -72.43 and a beta of 1.18. The stock has a fifty day moving average of $118.55 and a two-hundred day moving average of $114.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a 1-year low of $62.63 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.57) EPS. Research analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s payout ratio is currently -32.39%.

Micron Technology 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.