Creekmur Asset Management LLC Acquires 969 Shares of Micron Technology, Inc. (NASDAQ:MU)

Creekmur Asset Management LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 40.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,336 shares of the semiconductor manufacturer’s stock after buying an additional 969 shares during the quarter. Creekmur Asset Management LLC’s holdings in Micron Technology were worth $346,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Adell Harriman & Carpenter Inc. grew its position in shares of Micron Technology by 43.3% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 64,875 shares of the semiconductor manufacturer’s stock worth $6,728,000 after buying an additional 19,595 shares during the last quarter. Avitas Wealth Management LLC lifted its stake in shares of Micron Technology by 34.2% in the 3rd quarter. Avitas Wealth Management LLC now owns 24,416 shares of the semiconductor manufacturer’s stock valued at $2,532,000 after purchasing an additional 6,219 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of Micron Technology by 9.3% in the 3rd quarter. Childress Capital Advisors LLC now owns 3,368 shares of the semiconductor manufacturer’s stock valued at $349,000 after purchasing an additional 287 shares during the period. Deltec Asset Management LLC purchased a new position in shares of Micron Technology in the 3rd quarter valued at approximately $3,122,000. Finally, Fidelis Capital Partners LLC lifted its stake in shares of Micron Technology by 2.4% in the 3rd quarter. Fidelis Capital Partners LLC now owns 14,536 shares of the semiconductor manufacturer’s stock valued at $1,527,000 after purchasing an additional 340 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $106.17 on Wednesday. The stock’s 50-day simple moving average is $99.18 and its 200-day simple moving average is $113.58. Micron Technology, Inc. has a 52 week low of $65.26 and a 52 week high of $157.54. The company has a market capitalization of $117.73 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. 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 (NASDAQ:MU) last posted 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is currently -32.39%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. China Renaissance assumed coverage on Micron Technology in a research note on Monday. They issued a “buy” rating and a $148.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Stifel Nicolaus lowered their target price on 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, KeyCorp lowered their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

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.