Spire Wealth Management Has $517,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Spire Wealth Management trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 45.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,955 shares of the semiconductor manufacturer's stock after selling 4,983 shares during the quarter. Spire Wealth Management's holdings in Micron Technology were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares in the last quarter. FMR LLC lifted its stake in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital World Investors boosted its holdings 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 acquiring an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $2,052,973,000 after acquiring an additional 726,282 shares during the last quarter. Finally, Norges Bank bought a new stake in Micron Technology during the 4th quarter worth $1,470,875,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Down 1.0%

Shares of Micron Technology stock opened at $124.76 on Friday. The stock has a market capitalization of $139.43 billion, a PE ratio of 22.48 and a beta of 1.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $137.13. The stock has a 50 day moving average price of $98.71 and a two-hundred day moving average price of $94.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) 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 13.88%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the firm posted $0.62 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a $0.115 dividend. 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 presently 11.03%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MU. Needham & Company LLC upped their price objective on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group raised their price target on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Morgan Stanley increased their price objective on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Susquehanna raised their target price on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday. One 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $146.21.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 2,290 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the transaction, the chief executive officer now directly owns 384,885 shares in the company, valued at approximately $46,305,514.35. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,404 shares of company stock valued at $8,509,167 over the last ninety days. 0.30% of the stock is currently owned by insiders.

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.

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