Apollon Wealth Management LLC Has $2.43 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Apollon Wealth Management LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,011 shares of the semiconductor manufacturer's stock after acquiring an additional 3,295 shares during the quarter. Apollon Wealth Management LLC's holdings in Micron Technology were worth $2,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the period. FMR LLC lifted its position in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital World Investors lifted its position in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC lifted its position in Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank bought a new position in Micron Technology in the fourth quarter worth $1,470,875,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

NASDAQ MU traded up $0.78 on Friday, reaching $114.04. The stock had a trading volume of 7,487,000 shares, compared to its average volume of 23,294,411. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a fifty day moving average of $110.82 and a two-hundred day moving average of $96.72. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The company has a market cap of $127.63 billion, a P/E ratio of 20.54 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is currently 8.29%.

Wall Street Analyst Weigh In

MU has been the subject of a number of analyst reports. Wedbush lifted their price objective on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Stifel Nicolaus lifted their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 price objective for the company. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Finally, UBS Group lifted their price objective on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $146.44.

Insider Buying and Selling at Micron Technology

In related news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock worth $31,154,717 over the last quarter. 0.30% of the stock is currently owned by company insiders.

About Micron Technology

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.