1,416 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Eastern Bank

Eastern Bank bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,416 shares of the semiconductor manufacturer’s stock, valued at approximately $147,000.

A number of other large investors also recently modified their holdings of the company. Xcel Wealth Management LLC boosted its holdings in Micron Technology by 152.6% in the third quarter. Xcel Wealth Management LLC now owns 6,049 shares of the semiconductor manufacturer’s stock valued at $627,000 after purchasing an additional 3,654 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Micron Technology by 2.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 35,999 shares of the semiconductor manufacturer’s stock valued at $3,734,000 after buying an additional 960 shares in the last quarter. Kempner Capital Management Inc. grew its position in shares of Micron Technology by 16.8% in the 3rd quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock valued at $9,769,000 after buying an additional 13,581 shares during the last quarter. Calton & Associates Inc. raised its stake in Micron Technology by 218.8% during the 3rd quarter. Calton & Associates Inc. now owns 6,557 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in Micron Technology by 107.8% in the third quarter. Raleigh Capital Management Inc. now owns 1,168 shares of the semiconductor manufacturer’s stock valued at $121,000 after acquiring an additional 606 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MU. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Rosenblatt Securities upped their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Stock Up 1.7 %

Shares of MU stock opened at $106.85 on Friday. The stock’s 50 day simple moving average is $99.23 and its 200 day simple moving average is $114.10. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. 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 company has a market capitalization of $118.48 billion, a price-to-earnings ratio of -75.25 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly 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. 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 analyst estimates of $7.65 billion. During the same period in the previous year, the company earned ($1.21) earnings per share. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders 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 yield of 0.43%. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

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.