Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 391,221 shares of the semiconductor manufacturer’s stock after selling 13,322 shares during the quarter. Calamos Advisors LLC’s holdings in Micron Technology were worth $32,925,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MU. Highline Wealth Partners LLC acquired a new position in Micron Technology during the 3rd quarter worth $26,000. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC lifted its holdings in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Micron Technology during the third quarter valued at $39,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 1.4 %

Shares of NASDAQ MU opened at $89.92 on Tuesday. The stock has a market capitalization of $100.19 billion, a price-to-earnings ratio of 25.91 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $97.43 and its 200-day moving average price is $99.74.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.95) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays lowered their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

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.