Kesler Norman & Wride LLC Purchases Shares of 7,662 Micron Technology, Inc. (NASDAQ:MU)

Kesler Norman & Wride LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,662 shares of the semiconductor manufacturer’s stock, valued at approximately $795,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ossiam lifted its stake in shares of Micron Technology by 2.5% in the fourth quarter. Ossiam now owns 21,644 shares of the semiconductor manufacturer’s stock worth $1,847,000 after acquiring an additional 528 shares in the last quarter. Alta Park Capital LP increased its holdings in Micron Technology by 38.3% in the fourth quarter. Alta Park Capital LP now owns 355,079 shares of the semiconductor manufacturer’s stock valued at $30,302,000 after buying an additional 98,413 shares during the last quarter. Credit Capital Investments LLC increased its holdings in Micron Technology by 1.9% in the fourth quarter. Credit Capital Investments LLC now owns 55,001 shares of the semiconductor manufacturer’s stock valued at $4,694,000 after buying an additional 1,000 shares during the last quarter. Point72 Italy S.r.l. bought a new stake in Micron Technology in the fourth quarter valued at about $1,527,000. Finally, Brevan Howard Capital Management LP bought a new stake in Micron Technology in the fourth quarter valued at about $2,391,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 0.4 %

NASDAQ MU opened at $102.54 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a 50-day simple moving average of $96.56 and a 200 day simple moving average of $115.19. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The stock has a market cap of $113.70 billion, a PE ratio of -72.21, a PEG ratio of 0.20 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is -32.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MU shares. Citigroup lowered their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.85.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

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.