Chokshi & Queen Wealth Advisors Inc Invests $631,000 in Micron Technology, Inc. (NASDAQ:MU)

Chokshi & Queen Wealth Advisors Inc acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,500 shares of the semiconductor manufacturer's stock, valued at approximately $631,000. Micron Technology accounts for about 0.4% of Chokshi & Queen Wealth Advisors Inc's holdings, making the stock its 27th biggest position.

Several other institutional investors also recently bought and sold shares of MU. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after buying an additional 888,087 shares during the period. FMR LLC raised its holdings in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the period. Capital World Investors boosted its holdings 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 valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC grew its stake in Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares in the last quarter. Finally, Norges Bank purchased a new stake in Micron Technology during the 4th quarter worth approximately $1,470,875,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. Wall Street Zen downgraded Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group dropped their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Robert W. Baird lifted their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology Stock Performance

NASDAQ:MU traded down $0.20 during midday trading on Wednesday, reaching $96.18. 10,303,943 shares of the company traded hands, compared to its average volume of 23,441,016. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The firm has a market capitalization of $107.49 billion, a price-to-earnings ratio of 27.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a fifty day moving average price of $82.52 and a 200 day moving average price of $92.10.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm's quarterly revenue was up 38.2% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is owned by company insiders.

Micron Technology Company 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.