Regent Peak Wealth Advisors LLC Buys Shares of 2,365 Micron Technology, Inc. (NASDAQ:MU)

Regent Peak Wealth Advisors LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,365 shares of the semiconductor manufacturer’s stock, valued at approximately $205,000.

Several other institutional investors have also recently made changes to their positions in MU. Brighton Jones LLC raised its stake in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the period. Silver Oak Securities Incorporated raised its stake in shares of Micron Technology by 19.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,609 shares of the semiconductor manufacturer’s stock worth $308,000 after buying an additional 598 shares during the period. Consolidated Portfolio Review Corp raised its stake in Micron Technology by 5.2% during the 4th quarter. Consolidated Portfolio Review Corp now owns 2,547 shares of the semiconductor manufacturer’s stock valued at $214,000 after purchasing an additional 127 shares during the period. Strategic Financial Concepts LLC raised its stake in Micron Technology by 8,316.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 286,929 shares of the semiconductor manufacturer’s stock valued at $24,148,000 after purchasing an additional 283,520 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Micron Technology by 5.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 133,326 shares of the semiconductor manufacturer’s stock worth $11,221,000 after purchasing an additional 7,004 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 directly owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Robert W. Baird lifted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Two investment 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 stock has a consensus rating of “Moderate Buy” and an average target price of $128.20.

Micron Technology Trading Up 2.1%

MU stock opened at $108.56 on Friday. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. The firm’s fifty day simple moving average is $83.97 and its two-hundred day simple moving average is $92.13.

Micron Technology (NASDAQ:MU) last posted 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 for 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. The business’s revenue was up 38.2% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

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.