Cerity Partners LLC Acquires 34,938 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cerity Partners LLC raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 58.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,515 shares of the semiconductor manufacturer's stock after acquiring an additional 34,938 shares during the quarter. Cerity Partners LLC's holdings in Micron Technology were worth $9,802,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Great Valley Advisor Group Inc. grew its stake in shares of Micron Technology by 31.0% during the third quarter. Great Valley Advisor Group Inc. now owns 12,357 shares of the semiconductor manufacturer's stock valued at $1,282,000 after acquiring an additional 2,926 shares in the last quarter. Camden National Bank purchased a new position in Micron Technology in the third quarter valued at about $363,000. Stonebrook Private Inc. grew its stake in Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock valued at $255,000 after purchasing an additional 98 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in Micron Technology by 73.8% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 695,000 shares of the semiconductor manufacturer's stock worth $72,078,000 after purchasing an additional 295,000 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at approximately $730,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MU. Citigroup reduced their target price on Micron Technology from $175.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. Robert W. Baird lowered their target price on shares of Micron Technology from $172.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday, September 27th. KeyCorp decreased their price target 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. Stifel Nicolaus dropped their price objective on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, September 19th. Finally, China Renaissance initiated coverage on Micron Technology in a research note on Monday, October 28th. They issued a "buy" rating and a $148.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.04.

Micron Technology Trading Down 2.6 %

Micron Technology stock opened at $101.80 on Wednesday. The company has a 50 day moving average price of $103.07 and a 200 day moving average price of $111.90. 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 52 week low of $72.93 and a 52 week high of $157.54. The firm has a market capitalization of $112.87 billion, a price-to-earnings ratio of 149.71 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business's revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.21) EPS. Research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology's payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 135,830 shares of the company's stock, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company's stock.

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.