Ritholtz Wealth Management Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Ritholtz Wealth Management lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,094 shares of the semiconductor manufacturer’s stock after buying an additional 1,219 shares during the period. Ritholtz Wealth Management’s holdings in Micron Technology were worth $1,833,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sunbeam Capital Management LLC purchased a new position in Micron Technology during the 4th quarter valued at about $26,000. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter worth approximately $33,000. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $33,000. Finally, Roxbury Financial LLC grew its holdings in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 3,938 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the transaction, the chief executive officer now directly owns 387,175 shares of the company’s stock, valued at approximately $42,929,964. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,904 shares of company stock valued at $4,665,124. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MU. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Robert W. Baird upped their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Finally, Morgan Stanley reduced their target price on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Micron Technology Stock Performance

Shares of MU stock opened at $119.84 on Tuesday. The company has a 50 day moving average price of $89.28 and a 200-day moving average price of $92.68. The firm has a market capitalization of $133.93 billion, a PE ratio of 34.54 and a beta of 1.28. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

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.