WealthBridge Investment Counsel Inc. Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

WealthBridge Investment Counsel Inc. increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 130.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,875 shares of the semiconductor manufacturer's stock after acquiring an additional 14,085 shares during the period. WealthBridge Investment Counsel Inc.'s holdings in Micron Technology were worth $2,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Joule Financial LLC raised its position in Micron Technology by 150.0% in the 1st quarter. Joule Financial LLC now owns 13,854 shares of the semiconductor manufacturer's stock valued at $1,204,000 after buying an additional 8,313 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Micron Technology by 200.2% in the first quarter. Gateway Investment Advisers LLC now owns 192,308 shares of the semiconductor manufacturer's stock valued at $16,710,000 after purchasing an additional 128,256 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of Micron Technology by 2.5% in the first quarter. Independence Bank of Kentucky now owns 12,093 shares of the semiconductor manufacturer's stock valued at $1,051,000 after purchasing an additional 295 shares during the last quarter. City State Bank raised its holdings in shares of Micron Technology by 1.8% in the first quarter. City State Bank now owns 16,925 shares of the semiconductor manufacturer's stock valued at $1,471,000 after purchasing an additional 305 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. raised its holdings in shares of Micron Technology by 1.2% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 43,017 shares of the semiconductor manufacturer's stock valued at $3,738,000 after purchasing an additional 521 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU traded up $2.27 during trading hours on Friday, hitting $108.56. The company's stock had a trading volume of 20,687,183 shares, compared to its average volume of 23,633,876. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. 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 business has a 50 day simple moving average of $83.97 and a two-hundred day simple moving average of $92.13. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the business earned $0.42 EPS. Micron Technology's revenue was up 38.2% compared to the same quarter last year. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

MU has been the subject of several analyst reports. Mizuho increased 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. Morgan Stanley decreased their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research report on Wednesday, March 26th. KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, UBS Group increased their price target on Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.20.

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.