Mission Wealth Management LP Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Mission Wealth Management LP grew its position in Micron Technology, Inc. (NASDAQ:MU) by 106.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,562 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,867 shares during the quarter. Mission Wealth Management LP’s holdings in Micron Technology were worth $656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC raised its stake in shares of Micron Technology by 1,916.7% in the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after acquiring an additional 47,648 shares during the period. TCW Group Inc. increased its stake in Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after buying an additional 28,649 shares during the period. Gulf International Bank UK Ltd increased its stake in Micron Technology by 6.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after buying an additional 5,958 shares during the period. Savoie Capital LLC purchased a new position in Micron Technology in the 3rd quarter worth about $4,229,000. Finally, TrinityPoint Wealth LLC increased its stake in Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after buying an additional 8,736 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. Insiders sold 257,730 shares of company stock worth $31,921,649 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 3.8 %

NASDAQ:MU opened at $131.60 on Friday. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54. The stock has a market capitalization of $145.92 billion, a P/E ratio of -92.68 and a beta of 1.18. 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 company’s 50-day simple moving average is $130.26 and its 200-day simple moving average is $108.11.

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

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MU shares. The Goldman Sachs Group raised their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Wolfe Research raised their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Raymond James raised their price target on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, Morgan Stanley raised their target price on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.52.

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.