Golden State Wealth Management LLC Acquires 3,113 Shares of Micron Technology, Inc. (NASDAQ:MU)

Golden State Wealth Management LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 158.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,083 shares of the semiconductor manufacturer's stock after purchasing an additional 3,113 shares during the quarter. Golden State Wealth Management LLC's holdings in Micron Technology were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. E Fund Management Co. Ltd. lifted its holdings in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Duquesne Family Office LLC bought a new stake in Micron Technology in the fourth quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC lifted its stake in Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after buying an additional 1,130,680 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president now owns 148,167 shares in the company, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,404 shares of company stock worth $8,509,167. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $1.24 during midday trading on Friday, hitting $124.76. 36,813,002 shares of the company's stock were exchanged, compared to its average volume of 23,545,312. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $137.39. The company's 50 day moving average price is $97.59 and its 200 day moving average price is $94.05. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $139.43 billion, a PE ratio of 22.48 and a beta of 1.28.

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 the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced 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 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Wedbush upped their price target on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday. Stifel Nicolaus upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group increased their target price on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Piper Sandler raised their price objective on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.21.

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.