Wealth Alliance Has $633,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Wealth Alliance lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,809 shares of the semiconductor manufacturer’s stock after selling 513 shares during the period. Wealth Alliance’s holdings in Micron Technology were worth $633,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MU. TrinityPoint Wealth LLC grew its stake in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after purchasing an additional 8,736 shares during the period. Gladstone Institutional Advisory LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $241,000. Coldstream Capital Management Inc. boosted its holdings in Micron Technology by 4.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock worth $999,000 after acquiring an additional 476 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Micron Technology by 12.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after acquiring an additional 424 shares in the last quarter. Finally, Alpha Family Trust bought a new position in Micron Technology in the fourth quarter worth approximately $535,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company cut their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen increased their price target on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Citigroup cut their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald increased their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.54.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $87.35 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The business has a fifty day simple moving average of $101.48 and a two-hundred day simple moving average of $114.77. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The company has a market capitalization of $96.86 billion, a P/E ratio of -61.51 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the business posted ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

About Micron Technology

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.