Western Wealth Management LLC Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Western Wealth Management LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,399 shares of the semiconductor manufacturer's stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the fourth quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter valued at $33,000. Roxbury Financial LLC raised its position in Micron Technology by 306.1% in the 1st 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 last quarter. Curio Wealth LLC acquired a new stake in Micron Technology during the 4th quarter worth $34,000. Finally, Hurley Capital LLC bought a new position in Micron Technology during the 4th quarter worth approximately $37,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $0.29 during trading on Thursday, hitting $122.03. 13,238,805 shares of the stock were exchanged, compared to its average volume of 23,299,889. The company has a fifty day moving average price of $101.83 and a two-hundred day moving average price of $94.67. The company has a market cap of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $137.13. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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 firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the previous year, the company earned $0.62 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology's payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Morgan Stanley upped their price target on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Piper Sandler boosted their target price on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. TD Cowen boosted their price objective on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Rosenblatt Securities boosted their price target on shares of Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.21.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 252,042 shares of company stock worth $30,863,160. 0.30% of the stock is owned by company 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.