Regent Peak Wealth Advisors LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Regent Peak Wealth Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 2,365 shares of the semiconductor manufacturer's stock, valued at approximately $205,000.

Other institutional investors also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology during the 4th quarter valued at about $33,000. Roxbury Financial LLC raised its position in 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 acquiring an additional 300 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Wall Street Zen cut Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, UBS Group boosted their target price on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Stock Up 2.2%

Shares of NASDAQ:MU traded up $2.39 during trading on Monday, hitting $110.95. The company's stock had a trading volume of 20,141,543 shares, compared to its average volume of 23,619,970. The company has a market capitalization of $123.99 billion, a PE ratio of 31.97 and a beta of 1.28. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock's 50-day moving average price is $83.97 and its two-hundred day moving average price is $92.05.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the company posted $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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.