Adell Harriman & Carpenter Inc. Invests $4.33 Million in Micron Technology, Inc. (MU) Stock

Adell Harriman & Carpenter Inc. bought 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 SEC. The firm bought 110,128 shares of the semiconductor manufacturer’s stock, valued at approximately $4,331,000.

Several other large investors also recently modified their holdings of the business. Capital Research Global Investors lifted its stake in shares of Micron Technology by 386.6% in the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Micron Technology by 292.8% in the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after acquiring an additional 8,834,274 shares during the period. BT Investment Management Ltd bought a new position in Micron Technology in the 2nd quarter worth $95,449,000. Pioneer Investment Management Inc. raised its holdings in Micron Technology by 298.4% in the 2nd quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock worth $77,347,000 after acquiring an additional 1,940,212 shares during the period. Finally, Marshall Wace North America L.P. raised its holdings in Micron Technology by 7,981.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock worth $53,447,000 after acquiring an additional 1,759,521 shares during the period. 75.45% of the stock is owned by institutional investors.

Several research analysts have recently issued reports on MU shares. Cowen and Company restated a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a report on Wednesday, November 1st. J P Morgan Chase & Co boosted their price objective on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday. Deutsche Bank AG restated a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a report on Tuesday, November 7th. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of Micron Technology in a report on Wednesday, October 11th. Finally, Nomura restated a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Micron Technology in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and a consensus target price of $46.96.

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Shares of Micron Technology, Inc. (NASDAQ MU) traded down $0.30 on Tuesday, hitting $45.30. 17,212,678 shares of the stock traded hands, compared to its average volume of 28,977,008. The company has a market capitalization of $52,460.00, a price-to-earnings ratio of 10.09, a PEG ratio of 0.60 and a beta of 1.78. Micron Technology, Inc. has a 52 week low of $17.53 and a 52 week high of $45.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company’s revenue was up 90.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. sell-side analysts expect that Micron Technology, Inc. will post 7.42 EPS for the current year.

In related news, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total transaction of $340,000.00. Following the transaction, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at $4,767,888. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $32.64, for a total transaction of $97,920.00. Following the transaction, the director now directly owns 117,284 shares in the company, valued at $3,828,149.76. The disclosure for this sale can be found here. Insiders sold 333,415 shares of company stock worth $12,602,325 over the last three months. Insiders own 0.69% of the company’s stock.

Micron Technology Profile

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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