Texas Capital Bank Wealth Management Services Inc Sells 412 Shares of Micron Technology, Inc. (NASDAQ:MU)

Texas Capital Bank Wealth Management Services Inc decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,207 shares of the semiconductor manufacturer’s stock after selling 412 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Micron Technology were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the second quarter worth about $28,000. DecisionPoint Financial LLC purchased a new position in Micron Technology in the first quarter worth $25,000. Valued Wealth Advisors LLC increased its stake in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC raised its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Finally, LRI Investments LLC lifted its stake in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $107.50 on Friday. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. The firm has a market capitalization of $119.20 billion, a P/E ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $97.63 and a two-hundred day simple moving average of $114.81.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. On average, equities analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MU shares. Bank of America raised their price objective on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald lifted their target price on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group increased their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

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.