Deroy & Devereaux Private Investment Counsel Inc. Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 61.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 241,147 shares of the semiconductor manufacturer’s stock after acquiring an additional 91,392 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Micron Technology were worth $25,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atria Investments Inc increased its holdings in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC increased its holdings in Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 94 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares in the last quarter. LRI Investments LLC increased its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. Finally, E&G Advisors LP increased its holdings in Micron Technology by 5.2% in the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after buying an additional 100 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. China Renaissance assumed coverage on Micron Technology in a report on Monday. They issued a “buy” rating and a $148.00 price objective for the company. Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Stifel Nicolaus reduced their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Down 4.3 %

NASDAQ MU opened at $99.65 on Friday. The stock’s 50 day moving average is $99.01 and its 200 day moving average is $113.42. 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 $65.26 and a 12 month high of $157.54. The stock has a market cap of $110.49 billion, a PE ratio of 146.55 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping 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 return on equity of 1.58% and a net margin of 3.10%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.21) EPS. Research analysts predict 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 was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’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 transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate 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.