Micron Technology, Inc. $MU Shares Acquired by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,803 shares of the semiconductor manufacturer’s stock after acquiring an additional 279 shares during the period. Octavia Wealth Advisors LLC’s holdings in Micron Technology were worth $1,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Maridea Wealth Management LLC acquired a new stake in Micron Technology during the 2nd quarter valued at $212,000. Magnus Financial Group LLC acquired a new stake in Micron Technology during the 2nd quarter valued at $242,000. Avaii Wealth Management LLC grew its holdings in Micron Technology by 22.5% during the 2nd quarter. Avaii Wealth Management LLC now owns 6,049 shares of the semiconductor manufacturer’s stock valued at $746,000 after buying an additional 1,112 shares during the last quarter. Well Done LLC acquired a new stake in Micron Technology during the 2nd quarter valued at $375,000. Finally, Harrell Investment Partners LLC acquired a new stake in Micron Technology during the 2nd quarter valued at $382,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 2.8%

NASDAQ:MU opened at $161.71 on Thursday. The company has a market capitalization of $180.97 billion, a price-to-earnings ratio of 21.31 and a beta of 1.47. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. The stock has a 50-day simple moving average of $126.57 and a 200 day simple moving average of $107.07. 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 posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 17.69% and a net margin of 22.84%.During the same period last year, the firm earned $0.62 earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 13,798 shares of Micron Technology stock in a transaction dated Friday, September 19th. The stock was 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 directly owned 325,148 shares in the company, valued at approximately $52,739,005.60. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were 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 owned 201,326 shares of the company’s stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,946 shares of company stock valued at $32,306,159. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MU. TD Cowen raised their price objective on Micron Technology from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft increased their target price on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird increased their target price on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Wedbush increased their target price on Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Zacks Research raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.77.

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.