Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,013 shares of the semiconductor manufacturer’s stock after selling 144 shares during the period. Xcel Wealth Management LLC’s holdings in Micron Technology were worth $522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after buying an additional 888,087 shares during the last quarter. FMR LLC raised its stake in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the period. Capital World Investors raised its stake in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after acquiring an additional 726,282 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $1,470,875,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 92,638 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares of the company’s stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director directly owned 22,762 shares of the company’s stock, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 252,042 shares of company stock worth $30,863,160. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $121.74 on Thursday. The company has a market cap of $136.24 billion, a P/E ratio of 21.94 and a beta of 1.35. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.13. The business has a fifty day moving average of $101.83 and a two-hundred day moving average of $94.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the firm posted $0.62 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on MU shares. Citigroup lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Rosenblatt Securities lifted their price objective on Micron Technology from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Wedbush boosted their price objective on Micron Technology from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, June 26th. Mizuho upped their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Finally, KeyCorp lifted their price objective on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.21.

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.