Choate Investment Advisors Purchases 695 Shares of Micron Technology, Inc. (NASDAQ:MU)

Choate Investment Advisors grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 34.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,733 shares of the semiconductor manufacturer’s stock after purchasing an additional 695 shares during the quarter. Choate Investment Advisors’ holdings in Micron Technology were worth $230,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MU. Natixis Advisors LLC grew its position in Micron Technology by 9.3% during the 4th quarter. Natixis Advisors LLC now owns 452,301 shares of the semiconductor manufacturer’s stock worth $38,066,000 after acquiring an additional 38,435 shares during the last quarter. M & L Capital Management Ltd bought a new position in Micron Technology during the 4th quarter worth approximately $12,775,000. Frank Rimerman Advisors LLC grew its position in Micron Technology by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 15,502 shares of the semiconductor manufacturer’s stock worth $1,305,000 after acquiring an additional 475 shares during the last quarter. Brandes Investment Partners LP grew its position in Micron Technology by 4.6% during the 4th quarter. Brandes Investment Partners LP now owns 1,281,232 shares of the semiconductor manufacturer’s stock worth $107,828,000 after acquiring an additional 56,328 shares during the last quarter. Finally, United Capital Management of KS Inc. bought a new position in Micron Technology during the 4th quarter worth approximately $1,202,000. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MU shares. UBS Group increased their price objective on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Mizuho dropped their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Cantor Fitzgerald dropped their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Stock Up 2.3 %

MU stock opened at $103.11 on Tuesday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $114.88 billion, a PE ratio of 29.71 and a beta of 1.23. The business has a 50 day moving average of $96.80 and a 200 day moving average of $98.13.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.95) EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.