Clarius Group LLC Raises Position in Micron Technology, Inc. (NASDAQ:MU)

Clarius Group LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 12.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,055 shares of the semiconductor manufacturer’s stock after buying an additional 987 shares during the quarter. Clarius Group LLC’s holdings in Micron Technology were worth $939,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MU. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $25,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the second quarter valued at $28,000. Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Davis Capital Management purchased a new stake in Micron Technology during the 3rd quarter worth $30,000. Finally, Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU traded up $1.17 during trading hours on Friday, reaching $106.86. 3,372,983 shares of the company’s stock traded hands, compared to its average volume of 22,252,314. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The business’s fifty day simple moving average is $96.48 and its two-hundred day simple moving average is $114.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm has a market capitalization of $118.48 billion, a price-to-earnings ratio of 155.43 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.21) EPS. Analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MU. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st. Susquehanna reduced their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

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.