Lebenthal Global Advisors LLC Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

Lebenthal Global Advisors LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 142.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,360 shares of the semiconductor manufacturer’s stock after buying an additional 4,324 shares during the period. Lebenthal Global Advisors LLC’s holdings in Micron Technology were worth $763,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MU. Hills Bank & Trust Co purchased a new position in Micron Technology during the 3rd quarter valued at about $108,000. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Micron Technology by 61.0% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 241,147 shares of the semiconductor manufacturer’s stock valued at $25,009,000 after purchasing an additional 91,392 shares during the period. HM Payson & Co. increased its position in Micron Technology by 93.3% during the 3rd quarter. HM Payson & Co. now owns 574 shares of the semiconductor manufacturer’s stock valued at $60,000 after purchasing an additional 277 shares during the period. Davis Rea LTD. increased its position in Micron Technology by 250.0% during the 3rd quarter. Davis Rea LTD. now owns 70,000 shares of the semiconductor manufacturer’s stock valued at $7,260,000 after purchasing an additional 50,000 shares during the period. Finally, Catalyst Financial Partners LLC increased its position in Micron Technology by 12.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,994 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 0.6 %

NASDAQ MU traded up $0.56 during trading hours on Friday, reaching $100.21. The company had a trading volume of 3,263,528 shares, compared to its average volume of 21,864,293. The stock has a 50-day moving average of $99.01 and a 200 day moving average of $113.42. Micron Technology, Inc. has a 1-year low of $69.75 and a 1-year high of $157.54. 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 has a market capitalization of $111.11 billion, a P/E ratio of 147.61 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted 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 company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the company posted ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insiders Place Their Bets

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 transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Susquehanna reduced their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Finally, 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. One investment 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 presently 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.