Deltec Asset Management LLC Invests $3.12 Million in Micron Technology, Inc. (NASDAQ:MU)

Deltec Asset Management LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,102 shares of the semiconductor manufacturer’s stock, valued at approximately $3,122,000.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the second quarter valued at approximately $28,000. DecisionPoint Financial LLC acquired a new position in Micron Technology during the 1st quarter worth $25,000. Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. LRI Investments LLC grew its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares in the last quarter. Finally, Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter valued at $30,000. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Morgan Stanley increased their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Robert W. Baird dropped their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Susquehanna dropped their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $108.18 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $99.18 and a 200 day moving average price of $113.58. The company has a market cap of $119.95 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $65.17 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the company posted ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by company 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.