Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Increased by Davis Rea LTD.

Davis Rea LTD. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 250.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 50,000 shares during the quarter. Micron Technology comprises 3.2% of Davis Rea LTD.’s portfolio, making the stock its 15th largest position. Davis Rea LTD.’s holdings in Micron Technology were worth $7,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Clearbridge Investments LLC boosted its holdings in Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after buying an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. raised its position in shares of Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the period. Chapin Davis Inc. purchased a new stake in shares of Micron Technology during the second quarter valued at $4,056,000. Handelsbanken Fonder AB boosted its position in shares of Micron Technology by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after purchasing an additional 9,992 shares during the period. Finally, Kempner Capital Management Inc. raised its holdings in Micron Technology by 16.8% during the 3rd quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after buying an additional 13,581 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley increased their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Bank of America raised 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Trading Down 2.5 %

NASDAQ:MU opened at $101.43 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market capitalization of $112.47 billion, a PE ratio of -72.04 and a beta of 1.18. The business’s 50-day simple moving average is $99.10 and its 200-day simple moving average is $113.51. Micron Technology, Inc. has a fifty-two week low of $65.26 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.21) EPS. Sell-side analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.