Veriti Management LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ: MU – Get Rating) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,352 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,258 shares during the period. Veriti Management LLC’s holdings in Micron Technology were worth $ 1,429,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. SOA Wealth Advisors LLC. grew its holdings in Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $ 26,000 after purchasing an additional 200 shares in the last quarter. Concorde Financial Corp acquired a new position in Micron Technology during the 4th quarter worth $ 27,000. Selective Wealth Management Inc. acquired a new position in Micron Technology during the 4th quarter worth $ 28,000. Sterling Investment Advisors Ltd. grew its holdings in Micron Technology by 600.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock worth $ 33,000 after acquiring an additional 300 shares in the last quarter. Finally, Vectors Research Management LLC grew its holdings in Micron Technology by 60.3% during the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $ 35,000 after acquiring an additional 140 shares in the last quarter. 80.35% of the stock is owned by institutional investors and hedge funds.
MU has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of Micron Technology from $ 113.00 to $ 95.00 in a report on Tuesday. StockNews.com downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 14th. Piper Sandler downgraded shares of Micron Technology from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $ 90.00 to $ 70.00 in a research report on Friday, June 3rd. Morgan Stanley reduced their price target on shares of Micron Technology from $ 83.00 to $ 56.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Sanford C. Bernstein upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $ 94.00 price target on the stock in a research report on Wednesday, March 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 111.17.
Shares of MU opened at $ 56.80 on Wednesday. The firm’s 50 day moving average is $ 68.39 and its 200-day moving average is $ 79.23. The stock has a market capitalization of $ 63.43 billion, a P / E ratio of 7.14, a P / E / G ratio of 0.19 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33. Micron Technology, Inc. has a 12-month low of $ 53.60 and a 12-month high of $ 98.45.
Micron Technology (NASDAQ: MU – Get Rating) last announced its quarterly earnings data on Tuesday, March 29th. The semiconductor manufacturer reported $ 2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.85 by $ 0.20. The company had revenue of $ 7.79 billion for the quarter, compared to analysts’ expectations of $ 7.53 billion. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $ 0.90 EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 9.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th were paid a $ 0.10 dividend. The ex-dividend date was Friday, April 8th. This represents a $ 0.40 annualized dividend and a dividend yield of 0.70%. Micron Technology’s dividend payout ratio is currently 5.03%.
In other news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $ 76.00, for a total value of $ 425,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company stock.
Micron Technology Company Profile: (Get Rating)
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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