SOA Wealth Advisors LLC. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ: MU – Get Rating) by 144.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 338 shares of the semiconductor manufacturer’s stock after buying an additional 200 shares during the period. SOA Wealth Advisors LLC.’s holdings in Micron Technology were worth $ 26,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MU. OLD Mission Capital LLC acquired a new position in Micron Technology during the third quarter worth $ 251,000. New World Advisors LLC acquired a new position in Micron Technology during the third quarter worth $ 339,000. LPL Financial LLC grew its stake in shares of Micron Technology by 2.7% in the 3rd quarter. LPL Financial LLC now owns 284,673 shares of the semiconductor manufacturer’s stock worth $ 20,206,000 after acquiring an additional 7,440 shares in the last quarter. National Asset Management Inc. grew its stake in shares of Micron Technology by 10.3% in the 3rd quarter. National Asset Management Inc. now owns 22,793 shares of the semiconductor manufacturer’s stock worth $ 1,639,000 after acquiring an additional 2,135 shares in the last quarter. Finally, Intellectus Partners LLC grew its stake in shares of Micron Technology by 4.0% in the 3rd quarter. Intellectus Partners LLC now owns 33,834 shares of the semiconductor manufacturer’s stock worth $ 2,405,000 after acquiring an additional 1,286 shares in the last quarter. Hedge funds and other institutional investors own 80.35% of the company stock.
Several analysts have recently issued reports on MU shares. UBS Group reduced their target price on shares of Micron Technology from $ 120.00 to $ 115.00 and set a “buy” rating for the company in a research note on Monday, June 13th. Morgan Stanley increased their price target on shares of Micron Technology from $ 77.00 to $ 83.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 30th. Citigroup reduced their price target on shares of Micron Technology from $ 120.00 to $ 100.00 and set a “neutral” rating for the company in a research report on Monday, June 6th. Sanford C. Bernstein upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $ 94.00 price target for the company in a research report on Wednesday, March 16th. Finally, Mizuho increased their price target on shares of Micron Technology from $ 110.00 to $ 113.00 and gave the company a “buy” rating in a research report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $ 113.04.
Shares of Micron Technology stock opened at $ 55.75 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The company has a 50-day simple moving average of $ 69.02 and a two-hundred day simple moving average of $ 79.57. Micron Technology, Inc. has a 52-week low of $ 53.60 and a 52-week high of $ 98.45. The stock has a market capitalization of $ 62.25 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 0.19 and a beta of 1.17.
Micron Technology (NASDAQ: MU – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The semiconductor manufacturer reported $ 2.05 earnings per share for the quarter, beating the consensus estimate of $ 1.85 by $ 0.20. The firm had revenue of $ 7.79 billion during 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 firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company earned $ 0.90 earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post 9.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th were given a $ 0.10 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $ 0.40 dividend on an annualized basis and a dividend yield of 0.72%. Micron Technology’s payout ratio is currently 5.03%.
In other Micron Technology news, SVP April S. Arnzen sold 5,600 shares of the company 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.32% of the company stock.
About Micron Technology: (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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