Philip James Wealth Mangement LLC Purchases New Position in Micron Technology, Inc. (NASDAQ:MU)

Philip James Wealth Mangement LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,578 shares of the semiconductor manufacturer's stock, valued at approximately $224,000.

Several other large investors have also recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new position in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the 1st quarter valued at about $33,000. Curio Wealth LLC bought a new position in Micron Technology in the 4th quarter valued at about $34,000. Hurley Capital LLC bought a new position in Micron Technology in the 4th quarter valued at about $37,000. Finally, Roxbury Financial LLC increased its holdings in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MU. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday. Mizuho lifted their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research note on Wednesday, March 26th. Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wedbush lifted their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology Price Performance

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

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. 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 earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend 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 (DPR) is currently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the transaction, the executive vice president now owns 166,353 shares of the company's stock, valued at $20,812,423.83. This represents a 10.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was 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 directly owns 148,167 shares in the company, valued at $18,538,655.04. This trade 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 valued at $8,509,167. 0.30% of the stock is currently owned by insiders.

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.