Carmel Capital Partners LLC Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Carmel Capital Partners LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 53.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,385 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,437 shares during the quarter. Carmel Capital Partners LLC’s holdings in Micron Technology were worth $1,547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Swedbank AB increased its stake in Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Micron Technology by 12.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 120,731 shares of the semiconductor manufacturer’s stock valued at $12,521,000 after purchasing an additional 13,051 shares in the last quarter. United Advisor Group LLC purchased a new stake in shares of Micron Technology during the 3rd quarter valued at about $753,000. Crestwood Advisors Group LLC boosted its holdings in shares of Micron Technology by 38.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,283 shares of the semiconductor manufacturer’s stock valued at $237,000 after acquiring an additional 635 shares during the last quarter. Finally, Beacon Financial Advisory LLC boosted its holdings in shares of Micron Technology by 6.4% during the 3rd quarter. Beacon Financial Advisory LLC now owns 3,093 shares of the semiconductor manufacturer’s stock valued at $321,000 after acquiring an additional 186 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 3.4 %

Micron Technology stock opened at $94.34 on Thursday. The stock has a market cap of $105.11 billion, a P/E ratio of 27.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The firm’s 50 day moving average price is $95.91 and its 200-day moving average price is $98.60.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.95) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 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, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’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 transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MU shares. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Mizuho dropped their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company dropped their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.96.

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.