Calamos Advisors LLC Sells 109,915 Shares of Micron Technology, Inc. (NASDAQ:MU)

Calamos Advisors LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 19.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 464,236 shares of the semiconductor manufacturer’s stock after selling 109,915 shares during the period. Calamos Advisors LLC’s holdings in Micron Technology were worth $39,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the third quarter worth about $28,000. OFI Invest Asset Management bought a new position in shares of Micron Technology in the third quarter worth about $27,000. VisionPoint Advisory Group LLC lifted its holdings in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in Micron Technology in the 2nd quarter valued at approximately $32,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter valued at approximately $25,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the transaction, the chief executive officer now owns 642,251 shares of the company’s stock, valued at $56,139,159.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares in the company, valued at $56,139,159.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 313,890 shares of company stock valued at $33,617,027 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on MU shares. Piper Sandler raised their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Thursday, March 21st. Citigroup restated a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Thursday, April 4th. Finally, Bank of America raised their price objective on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Performance

Shares of MU traded down $4.40 on Thursday, reaching $111.93. The company’s stock had a trading volume of 31,084,110 shares, compared to its average volume of 20,446,434. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The stock has a market capitalization of $123.95 billion, a P/E ratio of -32.44 and a beta of 1.27. The stock’s 50 day simple moving average is $101.98 and its two-hundred day simple moving average is $86.22.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the firm earned ($2.03) earnings per share. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

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.