Calamos Advisors LLC Lowers Position in Micron Technology, Inc. (NASDAQ:MU)

Calamos Advisors LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464,236 shares of the semiconductor manufacturer's stock after selling 109,915 shares during the quarter. Calamos Advisors LLC's holdings in Micron Technology were worth $39,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Fortis Capital Advisors LLC bought a new position in Micron Technology during the fourth quarter worth $25,000. OFI Invest Asset Management bought a new position in Micron Technology during the third quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Micron Technology during the third quarter worth $28,000. Coppell Advisory Solutions LLC bought a new position in Micron Technology during the second quarter worth $32,000. Finally, VisionPoint Advisory Group LLC lifted its stake in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 198 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU stock traded down $4.40 during trading hours on Thursday, hitting $111.93. 32,073,840 shares of the stock traded hands, compared to its average volume of 20,450,951. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The company has a market cap of $123.95 billion, a P/E ratio of -32.44 and a beta of 1.27. The stock has a 50-day simple moving average of $102.53 and a 200 day simple moving average of $86.40.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating 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 business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the company posted ($2.03) EPS. Micron Technology's revenue for the quarter was up 57.7% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology's dividend payout ratio (DPR) is -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company's stock, valued at $86,789,214.30. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock worth $33,617,027 in the last quarter. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Cantor Fitzgerald raised their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their price objective on Micron Technology from $85.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, December 21st. KeyCorp increased their target price on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. UBS Group increased their target price on Micron Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. Finally, StockNews.com raised Micron Technology from a "sell" rating to a "hold" rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $122.20.

Micron Technology Company 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.