Bulltick Wealth Management LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Bulltick Wealth Management LLC significantly increased its stake in Micron Technology by 137.5% in Q1, now holding 9,500 shares valued at $827,000.
• Micron Technology's quarterly earnings report showed earnings per share of $1.91, exceeding estimates, with revenues of $9.30 billion.
• The company announced a quarterly dividend of $0.115 per share, with a yield of 0.4% and a payout ratio of 8.29%.

Bulltick Wealth Management LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 137.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,500 shares of the semiconductor manufacturer's stock after purchasing an additional 5,500 shares during the period. Bulltick Wealth Management LLC's holdings in Micron Technology were worth $827,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter worth approximately $33,000. Roxbury Financial LLC grew its stake in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares in the last quarter. AllSquare Wealth Management LLC grew its stake in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in Micron Technology in the first quarter worth approximately $36,000. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MU shares. KGI Securities cut Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Micron Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $150.00 target price for the company. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Robert W. Baird lifted their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Finally, TD Cowen raised their target price on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $147.24.

Insider Buying and Selling at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares of the company's stock, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president directly 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. In the last ninety days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of MU traded up $4.03 during mid-day trading on Tuesday, hitting $127.75. 25,954,869 shares of the company's stock were exchanged, compared to its average volume of 22,102,676. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $129.85. The firm has a market capitalization of $142.97 billion, a P/E ratio of 23.02 and a beta of 1.37. The business's 50 day moving average is $116.97 and its two-hundred day moving average is $98.42. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results 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. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a dividend of $0.115 per share. 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 is 8.29%.

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.