Maridea Wealth Management LLC Takes Position in Micron Technology, Inc. $MU

Maridea Wealth Management LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,720 shares of the semiconductor manufacturer's stock, valued at approximately $212,000.

Several other hedge funds also recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter valued at $33,000. AllSquare Wealth Management LLC lifted its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology in the 1st quarter valued at about $36,000. Roxbury Financial LLC boosted its position in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC grew its stake in Micron Technology by 240.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of MU stock opened at $156.83 on Friday. The stock's 50-day moving average is $127.44 and its 200 day moving average is $107.55. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $170.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.89. The company has a market cap of $175.51 billion, a P/E ratio of 20.66 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its 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 22.84% and a return on equity of 17.21%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the previous year, the company posted $0.62 earnings per share. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $185.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday. Rosenblatt Securities lifted their target price on Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. Erste Group Bank started coverage on Micron Technology in a research note on Thursday, August 14th. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "neutral" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $184.77.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 13,798 shares of Micron Technology stock in a transaction on Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the transaction, the chief executive officer directly owned 325,148 shares of the company's stock, valued at approximately $52,739,005.60. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,308 shares of company stock valued at $19,804,967 over the last three months. Company insiders own 0.30% of the company's stock.

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.

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