Wealth Management Partners LLC Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Wealth Management Partners LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,994 shares of the semiconductor manufacturer’s stock after buying an additional 328 shares during the quarter. Wealth Management Partners LLC’s holdings in Micron Technology were worth $782,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Xcel Wealth Management LLC boosted its position in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares during the period. Twin Capital Management Inc. boosted its position in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the period. Cim Investment Management Inc. boosted its position in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after acquiring an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position in Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock worth $883,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. Wedbush restated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Rosenblatt Securities decreased their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Citigroup decreased their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.48.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’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 transaction, the director now directly owns 24,954 shares of the company’s stock, valued at $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Micron Technology Trading Up 1.0%

Shares of MU stock opened at $103.25 on Thursday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a market capitalization of $115.39 billion, a PE ratio of 29.76 and a beta of 1.21. The firm has a 50 day moving average price of $83.19 and a two-hundred day moving average price of $92.03. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) 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 net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.