3,498 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Camden National Bank

Camden National Bank bought a new position in Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,498 shares of the semiconductor manufacturer’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA increased its stake in Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Van ECK Associates Corp increased its stake in Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Micron Technology by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after buying an additional 65,591 shares during the last quarter. Boston Partners increased its stake in Micron Technology by 1.4% in the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock valued at $534,189,000 after buying an additional 61,127 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Micron Technology by 7.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer’s stock valued at $443,489,000 after buying an additional 295,452 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $102.64 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 quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $102.46 and its 200 day moving average is $112.23. The stock has a market cap of $113.80 billion, a PE ratio of 150.94 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 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 company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the company earned ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Rosenblatt Securities increased their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, KeyCorp reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.