Adell Harriman & Carpenter Inc. Has $3.15 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Adell Harriman & Carpenter Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,945 shares of the semiconductor manufacturer’s stock after buying an additional 1,015 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Micron Technology were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in MU. Northern Trust Corp boosted its holdings in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares in the last quarter. L2 Asset Management LLC boosted its holdings in Micron Technology by 492.3% in the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock worth $1,799,000 after acquiring an additional 21,979 shares in the last quarter. Invesco Ltd. boosted its holdings in Micron Technology by 11.8% in the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after acquiring an additional 927,302 shares in the last quarter. Merlin Capital Inc bought a new position in Micron Technology in the third quarter worth approximately $407,000. Finally, Amitell Capital Pte Ltd boosted its holdings in Micron Technology by 97.9% in the third quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock worth $6,477,000 after acquiring an additional 47,105 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. KeyCorp lifted their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. TD Cowen lifted their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company lifted their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Down 0.4 %

Shares of MU stock traded down $0.48 during midday trading on Monday, reaching $114.36. 13,216,441 shares of the stock were exchanged, compared to its average volume of 20,473,012. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The company’s 50 day moving average is $105.94 and its two-hundred day moving average is $88.43. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm has a market cap of $126.64 billion, a PE ratio of -32.94 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the business earned ($2.03) EPS. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s payout ratio is currently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at approximately $66,901,175.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $66,901,175.88. The disclosure for this sale can be found here. Insiders have sold 268,890 shares of company stock worth $29,738,667 in the last 90 days. Insiders own 0.32% 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.