Calamos Advisors LLC Has $34.32 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Calamos Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 394,973 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,752 shares during the quarter. Calamos Advisors LLC’s holdings in Micron Technology were worth $34,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MU. Sunbeam Capital Management LLC bought a new position in Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth about $33,000. Roxbury Financial LLC grew its holdings in 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 during the last quarter. Curio Wealth LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $34,000. Finally, Hurley Capital LLC acquired a new position in shares of Micron Technology during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MU. Morgan Stanley raised their target price on shares of Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Bank of America lifted their target price on shares of Micron Technology from $84.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Wells Fargo & Company upped their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. Barclays raised their price target on Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Finally, Susquehanna lifted their price objective on Micron Technology from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.21.

Micron Technology Stock Up 0.2%

Shares of MU stock opened at $122.03 on Friday. The firm’s fifty day moving average price is $102.72 and its two-hundred day moving average price is $94.77. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $137.13. The firm has a market capitalization of $136.56 billion, a P/E ratio of 21.99 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s payout ratio is 11.03%.

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.