DE Burlo Group Inc. Purchases 197,835 Shares of Micron Technology, Inc. (NASDAQ:MU)

DE Burlo Group Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 143.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 335,825 shares of the semiconductor manufacturer’s stock after buying an additional 197,835 shares during the period. Micron Technology accounts for approximately 4.3% of DE Burlo Group Inc.’s investment portfolio, making the stock its 9th largest holding. DE Burlo Group Inc.’s holdings in Micron Technology were worth $34,828,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its holdings in shares of Micron Technology by 3.8% during the third quarter. Pacer Advisors Inc. now owns 136,536 shares of the semiconductor manufacturer’s stock valued at $14,160,000 after purchasing an additional 4,968 shares during the period. Tradewinds LLC. lifted its stake in Micron Technology by 22.8% in the 3rd quarter. Tradewinds LLC. now owns 21,201 shares of the semiconductor manufacturer’s stock worth $2,199,000 after acquiring an additional 3,937 shares in the last quarter. John G Ullman & Associates Inc. raised its stake in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 100 shares in the last quarter. German American Bancorp Inc. raised its stake in shares of Micron Technology by 7.3% during the 3rd quarter. German American Bancorp Inc. now owns 96,994 shares of the semiconductor manufacturer’s stock worth $10,059,000 after purchasing an additional 6,594 shares in the last quarter. Finally, Landscape Capital Management L.L.C. raised its stake in shares of Micron Technology by 450.7% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 17,137 shares of the semiconductor manufacturer’s stock worth $1,777,000 after purchasing an additional 14,025 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MU shares. Wells Fargo & Company cut their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. China Renaissance initiated coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued 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 given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.04.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company’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 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 legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Up 0.7 %

MU stock opened at $98.37 on Thursday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $101.93 and a two-hundred day moving average price of $112.42. The company has a market cap of $109.07 billion, a price-to-earnings ratio of 144.66 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month 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 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 last year, the firm posted ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

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.