Court Place Advisors LLC Takes $1 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Court Place Advisors LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,650 shares of the semiconductor manufacturer’s stock, valued at approximately $1,001,000.

A number of other large investors have also recently added to or reduced their stakes in MU. Wealthcare Advisory Partners LLC boosted its holdings in Micron Technology by 8.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,053 shares of the semiconductor manufacturer’s stock valued at $1,303,000 after acquiring an additional 815 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Micron Technology by 13.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,479 shares of the semiconductor manufacturer’s stock worth $9,016,000 after acquiring an additional 9,179 shares in the last quarter. Courier Capital LLC boosted its holdings in shares of Micron Technology by 5.9% in the 1st quarter. Courier Capital LLC now owns 9,015 shares of the semiconductor manufacturer’s stock valued at $1,063,000 after buying an additional 500 shares in the last quarter. Capital Asset Advisory Services LLC acquired a new position in Micron Technology in the first quarter valued at $631,000. Finally, Calton & Associates Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at about $252,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU traded up $2.14 during mid-day trading on Friday, hitting $108.99. 2,652,680 shares of the company’s stock traded hands, compared to its average volume of 22,035,016. The firm has a market capitalization of $120.85 billion, a price-to-earnings ratio of -75.25 and a beta of 1.18. The firm has a 50 day moving average of $99.23 and a two-hundred day moving average of $114.10. 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 $63.88 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly 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 firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the business posted ($1.21) earnings per share. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a $0.115 dividend. 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 0.42%. Micron Technology’s payout ratio is -32.39%.

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. Susquehanna cut their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Rosenblatt Securities increased their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Citigroup reduced their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

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.