Arkadios Wealth Advisors Purchases 16,993 Shares of Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Arkadios Wealth Advisors increased its stake in Micron Technology by 112.8%, acquiring an additional 16,993 shares, bringing its total holdings to 32,059 shares valued at approximately $2.79 million.
• Wall Street analysts have boosted their price targets for Micron Technology, with estimates ranging from $130.00 to $165.00, reflecting a consensus rating of "Moderate Buy."
• Insider trading activity saw two executives sell a total of 95,000 shares recently, indicating a significant decrease in their ownership stake in the company.

Arkadios Wealth Advisors raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 112.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,059 shares of the semiconductor manufacturer's stock after purchasing an additional 16,993 shares during the period. Arkadios Wealth Advisors' holdings in Micron Technology were worth $2,786,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology in the 1st quarter worth $33,000. Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. AllSquare Wealth Management LLC grew its stake in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares in the last quarter. Finally, Hurley Capital LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $37,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of MU stock traded down $4.26 during trading on Friday, hitting $104.88. The company had a trading volume of 23,950,731 shares, compared to its average volume of 20,928,238. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average is $114.36 and its two-hundred day moving average is $97.99. The stock has a market capitalization of $117.37 billion, a price-to-earnings ratio of 18.90 and a beta of 1.37. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share 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 analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior year, the business earned $0.62 earnings per share. As a group, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. Rosenblatt Securities upped their target price on shares of Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Stifel Nicolaus increased their price target on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Wedbush increased their price target on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.44.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 186,353 shares in the company, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by 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.