KCM Investment Advisors LLC Purchases 118 Shares of Micron Technology, Inc. (NASDAQ:MU)

KCM Investment Advisors LLC grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,175 shares of the semiconductor manufacturer’s stock after buying an additional 118 shares during the quarter. KCM Investment Advisors LLC’s holdings in Micron Technology were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Capital World Investors grew its position in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Capital International Investors lifted its position in shares of Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp increased its position in shares of 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 purchasing an additional 2,477,985 shares during the period. Finally, Boston Partners raised its stake in Micron Technology by 1.4% in the first quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock valued at $534,189,000 after purchasing an additional 61,127 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

MU has been the topic of several recent analyst reports. Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Bank of America lifted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. China Renaissance began coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Stifel Nicolaus decreased their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Down 2.9 %

Shares of NASDAQ MU opened at $96.34 on Friday. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company’s 50 day moving average price is $101.33 and its 200-day moving average price is $112.72. The company has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the previous year, the business earned ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.