Cerity Partners LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Cerity Partners LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 58.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 94,515 shares of the semiconductor manufacturer’s stock after buying an additional 34,938 shares during the period. Cerity Partners LLC’s holdings in Micron Technology were worth $9,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MU. Primecap Management Co. CA lifted its stake in shares of Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after purchasing an additional 206,499 shares during the period. Van ECK Associates Corp raised its position in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Micron Technology by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after acquiring an additional 65,591 shares during the last quarter. Boston Partners boosted its stake in shares of Micron Technology by 1.4% during the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after acquiring an additional 61,127 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Micron Technology by 7.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer’s stock valued at $443,489,000 after acquiring an additional 295,452 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 2.6 %

Shares of NASDAQ:MU opened at $101.80 on Wednesday. The company has a 50-day moving average price of $103.07 and a 200 day moving average price of $111.90. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a market cap of $112.87 billion, a price-to-earnings ratio of 149.71 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced 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. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the business earned ($1.21) EPS. The company’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity at Micron Technology

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 stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. TD Cowen lifted their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird lowered their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Stifel Nicolaus dropped their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average 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.