Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Claro Advisors LLC

Claro Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 377.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,483 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,659 shares during the period. Claro Advisors LLC’s holdings in Micron Technology were worth $1,398,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MU. Vanguard Group Inc. lifted its holdings in Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares during the last quarter. Capital World Investors lifted its holdings in shares of 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 purchasing an additional 1,400,154 shares during the last quarter. Capital International Investors boosted its position in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. Finally, Van ECK Associates Corp grew its stake in Micron Technology by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock worth $1,063,580,000 after buying an additional 519,641 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

NASDAQ MU opened at $111.15 on Friday. The stock has a market capitalization of $123.25 billion, a P/E ratio of -78.27 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The business’s fifty day moving average is $98.64 and its two-hundred day moving average is $114.54. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54.

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

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

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 on 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 of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Piper Sandler raised their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. The Goldman Sachs Group boosted their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

About Micron Technology

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.