Creekmur Asset Management LLC Acquires 969 Shares of Micron Technology, Inc. (NASDAQ:MU)

Creekmur Asset Management LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 40.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,336 shares of the semiconductor manufacturer’s stock after purchasing an additional 969 shares during the quarter. Creekmur Asset Management LLC’s holdings in Micron Technology were worth $346,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Clearbridge Investments LLC grew its holdings in Micron Technology by 1.1% during the first 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 in the last quarter. Global X Japan Co. Ltd. grew its holdings in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after buying an additional 9,735 shares in the last quarter. Chapin Davis Inc. bought a new stake in Micron Technology during the second quarter worth $4,056,000. Handelsbanken Fonder AB grew its holdings 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 buying an additional 9,992 shares in the last quarter. Finally, Kempner Capital Management Inc. grew its holdings in Micron Technology by 16.8% during the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after buying an additional 13,581 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $106.17 on Wednesday. The stock’s 50-day simple moving average is $99.18 and its 200 day simple moving average is $113.58. The stock has a market capitalization of $117.73 billion, a price-to-earnings ratio of -76.18 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 52-week low of $65.26 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, 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 firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the firm posted ($1.21) EPS. The company’s revenue was up 93.3% compared to the same quarter last year. Research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s payout ratio is currently -32.39%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was 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 in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MU shares. Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Rosenblatt Securities upped their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Finally, TD Cowen upped their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One 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 stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $143.04.

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.