Claro Advisors LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Claro Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,436 shares of the semiconductor manufacturer’s stock after acquiring an additional 612 shares during the quarter. Claro Advisors LLC’s holdings in Micron Technology were worth $356,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the 2nd quarter worth $28,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter worth $30,000. Richard W. Paul & Associates LLC boosted its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC grew its stake in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU opened at $97.51 on Tuesday. The stock has a market cap of $108.11 billion, a P/E ratio of 143.40 and a beta of 1.18. 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 firm has a fifty day moving average price of $101.55 and a 200 day moving average price of $112.64. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results 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. 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 for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the company posted ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of a number of recent analyst reports. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird reduced their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.04.

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.