Souders Financial Advisors Invests $213,000 in Micron Technology, Inc. (NASDAQ:MU)

Souders Financial Advisors bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,454 shares of the semiconductor manufacturer's stock, valued at approximately $213,000.

Several other large investors have also made changes to their positions in MU. Norges Bank bought a new stake in Micron Technology during the 4th quarter worth about $1,470,875,000. Capital World Investors grew its holdings in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares during the last quarter. FMR LLC grew its holdings in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital Research Global Investors grew its holdings in Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after acquiring an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors grew its holdings in Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after acquiring an additional 4,375,232 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,446 shares of company stock valued at $31,154,717. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock traded up $1.81 on Thursday, hitting $111.64. 11,980,137 shares of the stock were exchanged, compared to its average volume of 23,428,660. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The firm's 50 day moving average is $112.35 and its two-hundred day moving average is $97.41. 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 firm has a market capitalization of $124.94 billion, a PE ratio of 20.11 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter last year, the firm posted $0.62 EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 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, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology's dividend payout ratio is presently 8.29%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen upped 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. The Goldman Sachs Group began coverage on shares of Micron Technology in a research report on Thursday, July 10th. They issued a "neutral" rating and a $130.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Raymond James Financial raised their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Finally, UBS Group raised their price target on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $146.44.

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.