Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Castleview Partners LLC

Castleview Partners LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 407.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,671 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,342 shares during the quarter. Castleview Partners LLC’s holdings in Micron Technology were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Clearbridge Investments LLC increased its holdings in Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after acquiring an additional 20,741 shares in the last quarter. Chapin Davis Inc. acquired a new stake in shares of Micron Technology in the second quarter valued at about $4,056,000. Handelsbanken Fonder AB increased its stake in shares of Micron Technology by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after purchasing an additional 9,992 shares in the last quarter. Norden Group LLC raised its position in shares of Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in Micron Technology in the 1st quarter valued at about $8,558,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Micron Technology Trading Down 1.9 %

NASDAQ MU opened at $109.08 on Tuesday. 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 firm has a market cap of $120.95 billion, a price-to-earnings ratio of -76.82 and a beta of 1.18. The firm has a 50 day simple moving average of $98.93 and a 200-day simple moving average of $114.28. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the company posted ($1.21) EPS. The firm’s revenue was up 93.3% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is -32.39%.

Analyst Ratings Changes

MU has been the subject of several research reports. Robert W. Baird cut their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Bank of America lifted their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group increased their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Rosenblatt Securities lifted their target price 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. Finally, 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 report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

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.