Micron Technology, Inc. (NASDAQ:MU) Shares Bought by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 59.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 74,177 shares of the semiconductor manufacturer’s stock after purchasing an additional 27,577 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Micron Technology were worth $7,693,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Capital World Investors boosted its holdings in Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after buying an additional 1,400,154 shares during the last quarter. Capital International Investors boosted its holdings in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Finally, Boston Partners boosted its holdings in Micron Technology by 1.4% in the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after buying an additional 61,127 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. UBS Group lowered their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus lowered their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Citigroup lowered their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

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 shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 1.2 %

Micron Technology stock opened at $97.51 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $101.55 and its 200-day simple moving average is $112.64. The firm has a market capitalization of $108.11 billion, a P/E ratio of 143.40 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the company earned ($1.21) earnings per share. The business’s revenue was up 93.3% compared to the same quarter last year. As a group, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm 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 was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology’s payout ratio is 67.65%.

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.