Opal Wealth Advisors LLC Buys New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 380 shares of the semiconductor manufacturer’s stock, valued at approximately $33,000.

A number of other hedge funds have also added to or reduced their stakes in MU. Norges Bank acquired a new position in Micron Technology during the 4th quarter valued at about $1,470,875,000. Capital World Investors boosted its stake in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. FMR LLC boosted its stake in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock worth $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after buying an additional 4,375,232 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MU shares. Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a research note on Monday, April 28th. Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays cut their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $129.00.

Micron Technology Price Performance

NASDAQ:MU opened at $119.84 on Tuesday. The firm has a market capitalization of $133.93 billion, a price-to-earnings ratio of 34.54 and a beta of 1.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The stock has a fifty day moving average of $89.28 and a 200 day moving average of $92.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s payout ratio is 11.03%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock worth $4,665,124 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.

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.