44 Wealth Management LLC Has $724,000 Position in Micron Technology, Inc. (NASDAQ:MU)

44 Wealth Management LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 46.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,333 shares of the semiconductor manufacturer's stock after purchasing an additional 2,655 shares during the quarter. 44 Wealth Management LLC's holdings in Micron Technology were worth $724,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MU. Vanguard Group Inc. grew its position in Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after purchasing an additional 888,087 shares in the last quarter. FMR LLC boosted its stake 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 stake in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after buying an additional 15,993,036 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 726,282 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Micron Technology in the fourth quarter worth $1,470,875,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the transaction, the director owned 22,550 shares of the company's stock, valued at approximately $2,734,864. This represents a 9.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock worth $31,154,717 in the last three months. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Micron Technology stock traded up $0.29 during mid-day trading on Friday, reaching $122.03. The company had a trading volume of 13,247,931 shares, compared to its average volume of 23,335,060. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. The company has a 50 day moving average of $102.72 and a 200-day moving average of $94.77. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $137.13.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter last year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is presently 8.29%.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Citigroup increased their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Rosenblatt Securities lifted their price target on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Piper Sandler increased their price objective on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Susquehanna lifted their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $146.21.

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.