SVB Wealth LLC Has $1.51 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

SVB Wealth LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,726 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,473 shares during the period. SVB Wealth LLC’s holdings in Micron Technology were worth $1,513,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MU. Fortis Capital Advisors LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in Micron Technology in the third quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Micron Technology in the third quarter worth approximately $28,000. Coppell Advisory Solutions LLC acquired a new position in Micron Technology in the second quarter worth approximately $32,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 3.8 %

Shares of MU stock opened at $111.93 on Friday. The stock has a market cap of $123.95 billion, a P/E ratio of -32.44 and a beta of 1.27. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The stock has a fifty day moving average price of $102.53 and a 200 day moving average price of $86.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned ($2.03) earnings per share. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s dividend payout ratio is currently -13.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MU shares. Citigroup restated a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Thursday, April 4th. Morgan Stanley upped their target price on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Wedbush upped their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Mizuho upped their target price on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Evercore ISI upped their target price on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the completion of the sale, the chief executive officer now directly owns 642,251 shares in the company, valued at $56,139,159.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock worth $33,617,027 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

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.