Stratos Wealth Advisors LLC Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stratos Wealth Advisors LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 32.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,004 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,942 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Micron Technology were worth $830,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MU. Annex Advisory Services LLC increased its holdings in Micron Technology by 4.7% in the 1st quarter. Annex Advisory Services LLC now owns 12,411 shares of the semiconductor manufacturer’s stock worth $1,463,000 after acquiring an additional 558 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Micron Technology during the first quarter worth about $39,000. Prentice Wealth Management LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $334,000. Sound Income Strategies LLC lifted its stake in Micron Technology by 40.3% in the 1st quarter. Sound Income Strategies LLC now owns 1,358 shares of the semiconductor manufacturer’s stock valued at $160,000 after buying an additional 390 shares in the last quarter. Finally, CIC Wealth LLC increased its stake in Micron Technology by 5.3% during the 1st quarter. CIC Wealth LLC now owns 3,215 shares of the semiconductor manufacturer’s stock worth $379,000 after buying an additional 161 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $109.08 on Tuesday. The firm has a market cap of $120.95 billion, a PE ratio of -76.82 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $98.93 and its two-hundred day moving average is $114.28.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.21) EPS. On average, research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology’s payout ratio is -32.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. UBS Group lowered their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Rosenblatt Securities upped their target price on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, TD Cowen upped their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology 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.