9258 Wealth Management LLC Has $4.88 Million Position in Micron Technology, Inc. (NASDAQ:MU)

9258 Wealth Management LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 37,060 shares of the semiconductor manufacturer’s stock after selling 388 shares during the quarter. Micron Technology comprises about 0.8% of 9258 Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. 9258 Wealth Management LLC’s holdings in Micron Technology were worth $4,875,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MU. Benjamin F. Edwards & Company Inc. increased its stake in shares of Micron Technology by 26.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,757 shares of the semiconductor manufacturer’s stock valued at $235,000 after acquiring an additional 577 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $307,000. Spire Wealth Management raised its holdings in Micron Technology by 9.6% in the 4th quarter. Spire Wealth Management now owns 2,034 shares of the semiconductor manufacturer’s stock valued at $178,000 after acquiring an additional 179 shares during the period. Lincoln National Corp grew its holdings in Micron Technology by 13.3% in the 4th quarter. Lincoln National Corp now owns 8,059 shares of the semiconductor manufacturer’s stock valued at $688,000 after buying an additional 948 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Micron Technology by 36.1% in the 4th quarter. Apollon Wealth Management LLC now owns 18,048 shares of the semiconductor manufacturer’s stock worth $1,540,000 after purchasing an additional 4,787 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders sold 46,174 shares of company stock valued at $6,827,113 in the last ninety days. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $0.33 during midday trading on Thursday, hitting $89.62. The company’s stock had a trading volume of 5,260,969 shares, compared to its average volume of 21,263,020. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business’s 50 day simple moving average is $110.48 and its 200 day simple moving average is $114.69. The company has a market cap of $99.37 billion, a P/E ratio of -63.54 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.57) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analyst Weigh In

Several brokerages have commented on MU. Bank of America boosted their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Morgan Stanley increased their price target on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. JPMorgan Chase & Co. lifted their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Mizuho lifted their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Needham & Company LLC dropped their target price on Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

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.