Adell Harriman & Carpenter Inc. Purchases 13,946 Shares of Micron Technology, Inc. (NASDAQ:MU)

Adell Harriman & Carpenter Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,821 shares of the semiconductor manufacturer’s stock after buying an additional 13,946 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Micron Technology were worth $6,634,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MU. Van ECK Associates Corp raised its position in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. State Street Corp raised its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Micron Technology by 1,233.7% during the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after purchasing an additional 1,323,352 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of several research reports. The Goldman Sachs Group lowered their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley dropped their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Sanford C. Bernstein reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Finally, Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.96.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $99.52 on Friday. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a fifty day moving average of $96.13 and a 200-day moving average of $98.70. The company has a market capitalization of $110.88 billion, a P/E ratio of 28.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

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.