Chokshi & Queen Wealth Advisors Inc Takes Position in Micron Technology, Inc. (NASDAQ:MU)

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

Several other hedge funds have also modified their holdings of MU. Ameriflex Group Inc. acquired a new stake in shares of Micron Technology during the fourth quarter valued at about $116,000. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter valued at approximately $249,000. Forum Financial Management LP grew its stake in Micron Technology by 108.6% during the 4th quarter. Forum Financial Management LP now owns 30,539 shares of the semiconductor manufacturer's stock valued at $2,570,000 after purchasing an additional 15,898 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $227,000. Finally, Formidable Asset Management LLC increased its holdings in Micron Technology by 6.8% during the 4th quarter. Formidable Asset Management LLC now owns 5,107 shares of the semiconductor manufacturer's stock worth $430,000 after purchasing an additional 325 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock worth $1,858,424 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

MU stock traded up $3.01 on Tuesday, reaching $96.38. The company's stock had a trading volume of 17,591,651 shares, compared to its average volume of 23,493,475. The firm has a fifty day moving average of $82.65 and a two-hundred day moving average of $92.07. 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 market capitalization of $107.71 billion, a P/E ratio of 27.78 and a beta of 1.21. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 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, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology's payout ratio is 11.03%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Rosenblatt Securities reduced their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

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.