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

Calamos Advisors LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 394,973 shares of the semiconductor manufacturer’s stock after buying an additional 3,752 shares during the period. 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 (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology in the first quarter valued at approximately $33,000. Curio Wealth LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $34,000. Hurley Capital LLC bought a new position in Micron Technology during the 4th quarter worth $37,000. Finally, Roxbury Financial LLC raised its holdings in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president directly owned 148,167 shares of the company’s stock, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president owned 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $122.03 on Friday. The firm has a market capitalization of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $102.72 and its 200-day moving average price is $94.77. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $137.13.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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 net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business earned $0.62 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Raymond James Financial upped their target price on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, June 26th. Barclays upped their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Needham & Company LLC increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. TD Cowen boosted their target price on shares of Micron Technology from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Finally, UBS Group upped their price target on shares of Micron Technology from $120.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.21.

Micron Technology 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.