Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 195.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,650 shares of the semiconductor manufacturer's stock after acquiring an additional 10,348 shares during the period. Mission Wealth Management LP's holdings in Micron Technology were worth $1,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $26,000. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth approximately $33,000. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $33,000. Finally, Roxbury Financial LLC raised its stake in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 of the company's stock, valued at $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 44,904 shares of company stock valued at $4,665,124 in the last 90 days. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $119.84 on Tuesday. 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 firm has a market cap of $133.93 billion, a PE ratio of 34.54 and a beta of 1.28. The firm has a 50 day simple moving average of $89.28 and a 200-day simple moving average of $92.68. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year 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 earnings per share for the quarter, topping 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 business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Mizuho upped their price objective on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Citigroup increased their price target on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a report on Monday, June 9th. UBS Group boosted their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, Barclays lowered their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average target price of $129.00.

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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