Octavia Wealth Advisors LLC Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Octavia Wealth Advisors LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.3% during the first quarter, HoldingsChannel.com reports. The firm owned 13,524 shares of the semiconductor manufacturer’s stock after selling 463 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Micron Technology were worth $1,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Tounjian Advisory Partners LLC purchased a new position in Micron Technology during the first quarter valued at $2,033,000. Rheos Capital Works Inc. grew its stake in shares of Micron Technology by 31.0% in the first quarter. Rheos Capital Works Inc. now owns 169,000 shares of the semiconductor manufacturer’s stock worth $14,684,000 after acquiring an additional 40,000 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in shares of Micron Technology by 12.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer’s stock worth $314,000 after acquiring an additional 413 shares during the last quarter. Werlinich Asset Management LLC bought a new position in shares of Micron Technology during the first quarter valued at $918,000. Finally, Capital Investment Advisors LLC raised its position in shares of Micron Technology by 17.6% in the 1st quarter. Capital Investment Advisors LLC now owns 7,429 shares of the semiconductor manufacturer’s stock worth $645,000 after purchasing an additional 1,112 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities dropped their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Wall Street Zen downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Finally, China Renaissance downgraded shares of 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.20.

Insider Buying and Selling

In other Micron Technology news, 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 transaction of $1,442,700.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $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 Stock Performance

MU stock opened at $108.56 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a market cap of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28. The stock’s fifty day moving average price is $83.97 and its 200-day moving average price is $92.05.

Micron Technology (NASDAQ:MU) last posted its earnings results 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. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid 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%.

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.