Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,969 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,725 shares during the quarter. Harbour Investments Inc.’s holdings in Micron Technology were worth $1,449,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Chartwell Investment Partners LLC raised its holdings in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after purchasing an additional 40,802 shares during the period. Clearbridge Investments LLC raised its stake in shares of 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 buying an additional 20,741 shares during the period. Global X Japan Co. Ltd. lifted its position in shares of Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after buying an additional 9,735 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of Micron Technology by 9.1% during the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after buying an additional 13,573 shares in the last quarter. Finally, RWQ Financial Management Services Inc. acquired a new stake in Micron Technology in the 3rd quarter valued at $1,270,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent analyst reports. Raymond James increased their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. TD Cowen lifted their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Stock Performance

NASDAQ:MU opened at $99.92 on Thursday. The stock has a market capitalization of $110.79 billion, a P/E ratio of 146.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The company has a 50 day moving average price of $100.72 and a 200 day moving average price of $113.03.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the firm posted ($1.21) earnings per share. The company’s revenue was up 93.3% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS 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 paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

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.