Accurate Wealth Management LLC Takes Position in Micron Technology, Inc. $MU

Accurate Wealth Management LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,336 shares of the semiconductor manufacturer’s stock, valued at approximately $288,000.

Several other large investors also recently added to or reduced their stakes in the business. AM Investment Strategies LLC lifted its stake in shares of Micron Technology by 55.9% in the 2nd quarter. AM Investment Strategies LLC now owns 9,904 shares of the semiconductor manufacturer’s stock valued at $1,220,000 after purchasing an additional 3,550 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Micron Technology by 21.9% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 16,748 shares of the semiconductor manufacturer’s stock valued at $2,064,000 after acquiring an additional 3,012 shares during the last quarter. Eaton Financial Holdings Company LLC bought a new position in shares of Micron Technology in the 2nd quarter valued at approximately $1,195,000. Occidental Asset Management LLC lifted its holdings in Micron Technology by 12.6% in the 2nd quarter. Occidental Asset Management LLC now owns 6,388 shares of the semiconductor manufacturer’s stock worth $787,000 after purchasing an additional 715 shares during the last quarter. Finally, E&G Advisors LP bought a new stake in Micron Technology during the second quarter worth approximately $235,000. 80.84% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the completion of the transaction, the chief executive officer owned 325,148 shares of the company’s stock, valued at $52,739,005.60. The trade was a 4.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. This represents a 10.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,308 shares of company stock valued at $19,804,967. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird boosted their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. The Goldman Sachs Group raised their target price on Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group upped their price target on Micron Technology from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Arete Research upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.77.

Micron Technology Trading Down 3.0%

NASDAQ:MU opened at $156.83 on Friday. The firm has a market capitalization of $175.51 billion, a price-to-earnings ratio of 20.66 and a beta of 1.47. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $170.45. The business’s 50-day moving average price is $127.44 and its two-hundred day moving average price is $107.55. The company has a current ratio of 2.52, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the business posted $0.62 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology’s dividend payout ratio (DPR) is 8.29%.

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.