Chicago Partners Investment Group LLC Acquires 2,683 Shares of Micron Technology, Inc. (NASDAQ:MU)

Chicago Partners Investment Group LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 41.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,170 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,683 shares during the period. Chicago Partners Investment Group LLC’s holdings in Micron Technology were worth $963,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MU. Price T Rowe Associates Inc. MD increased its stake in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Capital International Investors increased its position in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Swedbank AB lifted its position in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Micron Technology by 301,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after acquiring an additional 1,809,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MU shares. TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. KeyCorp decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, UBS Group decreased their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

NASDAQ:MU opened at $99.73 on Monday. The business’s 50-day simple moving average is $98.94 and its two-hundred day simple moving average is $113.18. Micron Technology, Inc. has a 52 week low of $69.75 and a 52 week high of $157.54. The stock has a market cap of $110.57 billion, a PE ratio of 146.66 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.

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.