Micron Technology, Inc. (NASDAQ:MU) Position Raised by DE Burlo Group Inc.

DE Burlo Group Inc. increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 143.4% during the 3rd quarter, Holdings Channel reports. The firm owned 335,825 shares of the semiconductor manufacturer’s stock after buying an additional 197,835 shares during the period. Micron Technology makes up approximately 4.3% of DE Burlo Group Inc.’s investment portfolio, making the stock its 9th biggest position. DE Burlo Group Inc.’s holdings in Micron Technology were worth $34,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in Micron Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology during the second quarter worth approximately $28,000. Davis Capital Management purchased a new position in Micron Technology during the third quarter valued at approximately $30,000. Richard W. Paul & Associates LLC increased its holdings 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 valued at $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MU. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Bank of America upped their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

Micron Technology Stock Up 0.7 %

Shares of Micron Technology stock opened at $98.37 on Thursday. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $109.07 billion, a P/E ratio of 144.66 and a beta of 1.18. The stock has a 50 day moving average price of $101.93 and a two-hundred day moving average price of $112.42.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business earned ($1.21) earnings per share. The business’s revenue was up 93.3% on a year-over-year basis. Equities 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 given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s 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.