Calton & Associates Inc. Invests $252,000 in Micron Technology, Inc. (NASDAQ:MU)

Calton & Associates Inc. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,139 shares of the semiconductor manufacturer’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MU. Cary Street Partners Investment Advisory LLC boosted its position in Micron Technology by 52.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,951 shares of the semiconductor manufacturer’s stock worth $201,000 after purchasing an additional 1,018 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Micron Technology during the 3rd quarter worth $2,669,000. Operose Advisors LLC purchased a new stake in Micron Technology during the 3rd quarter worth $53,000. Mutual Advisors LLC boosted its position in Micron Technology by 112.9% during the 3rd quarter. Mutual Advisors LLC now owns 10,288 shares of the semiconductor manufacturer’s stock worth $700,000 after purchasing an additional 5,456 shares during the period. Finally, Vinva Investment Management Ltd purchased a new stake in Micron Technology during the 3rd quarter worth $450,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Down 0.5 %

MU opened at $131.53 on Friday. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54. The company’s 50-day moving average price is $128.07 and its 200 day moving average price is $106.08. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MUGet Free Report) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the business earned ($1.57) earnings per share. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 0.36 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research reports. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Stifel Nicolaus upped their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Wolfe Research upped their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Bank of America upped their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, UBS Group decreased their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.52.

View Our Latest Report on Micron Technology

Insider Activity

In other news, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the transaction, the executive vice president now owns 260,857 shares in the company, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,840 shares of company stock valued at $37,961,924. Insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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