Jeppson Wealth Management LLC Takes $203,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Jeppson Wealth Management LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,336 shares of the semiconductor manufacturer's stock, valued at approximately $203,000.

Other hedge funds also recently made changes to their positions in the company. Xcel Wealth Management LLC lifted its position in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after acquiring an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after acquiring an additional 108 shares in the last quarter. Twin Capital Management Inc. lifted its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after acquiring an additional 108 shares in the last quarter. Cim Investment Management Inc. lifted its position in Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after acquiring an additional 114 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after acquiring an additional 119 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MU. TD Cowen raised their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday. Cantor Fitzgerald lifted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday. Wedbush lifted their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Robert W. Baird lifted their target price on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $1.24 during mid-day trading on Friday, reaching $124.76. The company had a trading volume of 36,813,002 shares, compared to its average volume of 23,307,672. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The firm has a market cap of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. The company's 50-day moving average price is $98.71 and its 200-day moving average price is $94.18. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.13.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology's dividend payout ratio is 11.03%.

Insider Activity at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. The trade was a 9.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction 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 now owns 148,167 shares of the company's stock, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,404 shares of company stock worth $8,509,167. Corporate insiders own 0.30% of the company's stock.

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.