Mission Wealth Management LP Takes $230,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Mission Wealth Management LP acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,695 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Sandy Spring Bank grew its position in Micron Technology by 11.1% in the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after buying an additional 130 shares in the last quarter. HMS Capital Management LLC raised its holdings in Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares in the last quarter. Huntington National Bank lifted its position in Micron Technology by 6.0% in the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after purchasing an additional 149 shares during the period. Allworth Financial LP boosted its stake in Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after purchasing an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp increased its position in shares of Micron Technology by 12.5% during the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after purchasing an additional 152 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 Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The disclosure for this sale can be found here. Insiders sold 323,890 shares of company stock valued at $36,079,267 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $114.70 on Friday. The stock has a 50-day simple moving average of $108.38 and a 200 day simple moving average of $89.36. 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, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54.

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

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Wells Fargo & Company increased their price objective on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Barclays lifted their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Citigroup reaffirmed a “buy” rating and set a $150.00 target price on shares of Micron Technology in a report on Thursday, April 4th. Finally, Wedbush increased their price target on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.20.

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.