Callan Capital LLC Raises Position in Micron Technology, Inc. (NASDAQ:MU)

Callan Capital LLC grew its position in Micron Technology, Inc. (NASDAQ:MU) by 12.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,115 shares of the semiconductor manufacturer’s stock after buying an additional 459 shares during the period. Callan Capital LLC’s holdings in Micron Technology were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $26,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of Micron Technology by 261.1% during 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. Finally, Beacon Capital Management LLC raised its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird reduced their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Mizuho reduced their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Wells Fargo & Company reduced their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $98.78 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a fifty day moving average price of $96.28 and a 200 day moving average price of $98.82. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The firm has a market cap of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the prior year, the business earned ($0.95) earnings per share. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is 13.26%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by insiders.

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.