Calton & Associates Inc. Acquires New Position in Micron Technology, Inc. (NASDAQ:MU)

Calton & Associates Inc. purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,847 shares of the semiconductor manufacturer's stock, valued at approximately $247,000.

Other large investors have also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the 1st quarter valued at $33,000. Roxbury Financial LLC boosted its stake in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $37,000. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,446 shares of company stock worth $31,154,717. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MU shares. Raymond James Financial upped their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Citigroup upped their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Cantor Fitzgerald increased their price objective on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Susquehanna raised their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $146.44.

Micron Technology Trading Up 1.6%

Micron Technology stock traded up $1.79 during mid-day trading on Thursday, hitting $111.62. The company's stock had a trading volume of 11,851,732 shares, compared to its average volume of 23,428,660. The business has a 50 day moving average price of $112.35 and a 200-day moving average price of $97.41. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The stock has a market cap of $124.92 billion, a price-to-earnings ratio of 20.10 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the previous year, the company earned $0.62 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology's dividend payout ratio is currently 8.29%.

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.