Chicago Partners Investment Group LLC Has $788,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Chicago Partners Investment Group LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,366 shares of the semiconductor manufacturer’s stock after purchasing an additional 196 shares during the period. Chicago Partners Investment Group LLC’s holdings in Micron Technology were worth $788,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Czech National Bank boosted its stake in Micron Technology by 7.1% during the 3rd quarter. Czech National Bank now owns 225,924 shares of the semiconductor manufacturer’s stock valued at $23,431,000 after purchasing an additional 14,902 shares during the period. Mirador Capital Partners LP bought a new stake in shares of Micron Technology in the third quarter valued at approximately $482,000. Handelsbanken Fonder AB grew its stake in shares of Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after acquiring an additional 9,992 shares during the last quarter. GAMMA Investing LLC increased its position in Micron Technology by 12.1% during the third quarter. GAMMA Investing LLC now owns 15,599 shares of the semiconductor manufacturer’s stock worth $1,618,000 after acquiring an additional 1,689 shares during the period. Finally, Diversified Trust Co boosted its holdings in Micron Technology by 37.0% in the 3rd quarter. Diversified Trust Co now owns 22,202 shares of the semiconductor manufacturer’s stock valued at $2,303,000 after purchasing an additional 5,995 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 1.4 %

Shares of NASDAQ:MU opened at $91.24 on Monday. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The firm has a market cap of $101.66 billion, a P/E ratio of 26.29 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $97.43 and its two-hundred day moving average price is $99.88.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.95) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s payout ratio is 13.26%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MU shares. Cantor Fitzgerald dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Mizuho cut their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. KeyCorp cut their target price 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $134.96.

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.