Axxcess Wealth Management LLC Invests $307,000 in Micron Technology, Inc. (NASDAQ:MU)

Axxcess Wealth Management LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,596 shares of the semiconductor manufacturer’s stock, valued at approximately $307,000.

Other large investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Micron Technology during the 3rd quarter valued at about $28,000. OFI Invest Asset Management purchased a new position in Micron Technology in the third quarter worth about $27,000. VisionPoint Advisory Group LLC raised 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. Cape Investment Advisory Inc. raised its holdings in Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC raised its holdings in Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 251 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on 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 owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,207 shares of company stock worth $41,839,707. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $119.32 on Thursday. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $131.73 billion, a price-to-earnings ratio of -34.59 and a beta of 1.27. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The firm’s 50-day moving average is $110.11 and its 200 day moving average is $90.70.

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, 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 for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business posted ($2.03) earnings per share. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given 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 0.39%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MU. Mizuho lifted their target price on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Piper Sandler lifted their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, TD Cowen increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

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.