Hennion & Walsh Asset Management Inc. Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Hennion & Walsh Asset Management Inc. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 48.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,965 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,226 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Micron Technology were worth $1,127,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $26,000. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter worth about $33,000. Activest Wealth Management raised its position in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $108.56 on Friday. 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 capitalization of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28. The firm’s 50 day simple moving average is $83.97 and its two-hundred day simple moving average is $92.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $7.93 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In related 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 value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MU shares. Mizuho lifted their price target on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Rosenblatt Securities dropped their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. UBS Group raised their target price on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday. Finally, KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.20.

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.