Exencial Wealth Advisors LLC Has $9.25 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Exencial Wealth Advisors LLC significantly increased its stake in Micron Technology by 1,185.7%, acquiring an additional 98,167 shares, bringing its total holdings to 106,446 shares valued at approximately $9.25 million.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, representing an annualized yield of 0.4%, with a payout ratio of 8.29%.
• Research analysts have a generally positive outlook on Micron Technology, with multiple firms raising their target prices significantly and a consensus rating of "Moderate Buy" at an average target price of $146.44.

Exencial Wealth Advisors LLC increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,185.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,446 shares of the semiconductor manufacturer's stock after buying an additional 98,167 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Micron Technology were worth $9,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after acquiring an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after acquiring an additional 2,038,641 shares during the last quarter. Intrust Bank NA increased its position in shares of Micron Technology by 5.8% during the first quarter. Intrust Bank NA now owns 22,147 shares of the semiconductor manufacturer's stock worth $1,924,000 after acquiring an additional 1,221 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in Micron Technology by 103.7% in the first quarter. Wealthspire Advisors LLC now owns 11,546 shares of the semiconductor manufacturer's stock valued at $1,003,000 after buying an additional 5,877 shares during the last quarter. Finally, Wallington Asset Management LLC increased its holdings in Micron Technology by 0.5% in the first quarter. Wallington Asset Management LLC now owns 41,608 shares of the semiconductor manufacturer's stock valued at $3,615,000 after buying an additional 225 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on 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 owned 201,326 shares in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock worth $34,679,277 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MU shares. Susquehanna upped their target price on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Rosenblatt Securities upped their target price on Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. KeyCorp increased their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $0.28 during trading on Wednesday, hitting $108.78. 12,285,305 shares of the stock were exchanged, compared to its average volume of 21,489,900. The stock has a market capitalization of $121.74 billion, a price-to-earnings ratio of 19.60 and a beta of 1.37. The company has a fifty day moving average price of $114.91 and a 200-day moving average price of $98.01. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. 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 quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's dividend payout ratio is 8.29%.

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.