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

Calamos Advisors LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. boosted its position in Micron Technology by 12.8% in the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock worth $27,314,000 after purchasing an additional 39,693 shares in the last quarter. Prudential PLC purchased a new stake in Micron Technology in the 1st quarter worth approximately $1,672,000. Brighton Jones LLC boosted its position in Micron Technology by 12.3% in the 1st quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock worth $227,000 after purchasing an additional 318 shares in the last quarter. Baird Financial Group Inc. boosted its position in Micron Technology by 9.2% in the 1st quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock worth $15,611,000 after purchasing an additional 16,953 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its position in Micron Technology by 52.5% in the 1st quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MU. Needham & Company LLC upped their price objective on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Mizuho increased their price objective on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Wells Fargo & Company boosted their target price on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Evercore ISI lifted their price target on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, December 21st. Finally, JPMorgan Chase & Co. lifted their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Performance

MU traded down $4.40 during trading hours on Thursday, hitting $111.93. The company’s stock had a trading volume of 31,084,110 shares, compared to its average volume of 20,446,434. Micron Technology, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $130.54. 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 capitalization of $123.95 billion, a PE ratio of -32.44 and a beta of 1.27. The company has a 50-day simple moving average of $101.98 and a 200 day simple moving average of $86.22.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the firm earned ($2.03) EPS. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Micron Technology 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 in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The disclosure for this sale can be found here. Insiders have sold 313,890 shares of company stock worth $33,617,027 in the last three months. 0.32% of the stock is currently owned by insiders.

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.