Hazlett Burt & Watson Inc. Has $1.08 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Hazlett Burt & Watson Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,362 shares of the semiconductor manufacturer’s stock after buying an additional 1,559 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Micron Technology were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its holdings in Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the last quarter. Global X Japan Co. Ltd. grew its stake in shares of Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after acquiring an additional 9,735 shares in the last quarter. Chapin Davis Inc. acquired a new position in shares of Micron Technology in the second quarter valued at about $4,056,000. Handelsbanken Fonder AB increased its position in Micron Technology by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock worth $45,072,000 after acquiring an additional 9,992 shares during the period. Finally, Kempner Capital Management Inc. raised its stake in Micron Technology by 16.8% in the 3rd quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after purchasing an additional 13,581 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $3.72 on Monday, reaching $103.45. 4,773,300 shares of the company traded hands, compared to its average volume of 21,835,467. The firm has a market capitalization of $114.70 billion, a PE ratio of 152.16 and a beta of 1.18. The company has a 50 day moving average of $98.94 and a 200 day moving average of $113.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 52 week low of $71.71 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share 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 firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MU. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. TD Cowen increased their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. One 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. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 owns 135,830 shares in the company, valued at $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 available through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Company 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.