Resurgent Financial Advisors LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Resurgent Financial Advisors LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MUGet Rating) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,600 shares of the semiconductor manufacturer’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MU. SOA Wealth Advisors LLC. grew its position in shares of Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Concorde Financial Corp bought a new position in Micron Technology in the 4th quarter worth about $27,000. Core Alternative Capital grew its position in Micron Technology by 912.5% in the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 365 shares during the last quarter. BDO Wealth Advisors LLC grew its position in Micron Technology by 46.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 140 shares during the last quarter. Finally, Vectors Research Management LLC grew its position in Micron Technology by 60.3% in the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 79.66% of the company’s stock.

Micron Technology Stock Up 3.7 %

Micron Technology stock opened at $57.44 on Monday. The firm has a market cap of $63.36 billion, a PE ratio of 6.55, a P/E/G ratio of 0.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.44 and a current ratio of 3.24. The firm’s 50 day moving average price is $59.90 and its two-hundred day moving average price is $67.18. Micron Technology, Inc. has a twelve month low of $51.40 and a twelve month high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last announced its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.33 by $0.17. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The company had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same quarter in the prior year, the business posted $1.81 EPS. Micron Technology’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts predict that Micron Technology, Inc. will post 8 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were issued a dividend of $0.115 per share. This is an increase from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, July 8th. Micron Technology’s dividend payout ratio is currently 5.25%.

Insider Buying and Selling

In related news, SVP Michael W. Bokan sold 16,600 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total transaction of $1,059,412.00. Following the completion of the sale, the senior vice president now directly owns 119,126 shares of the company’s stock, valued at approximately $7,602,621.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. Cowen decreased their target price on shares of Micron Technology from $90.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Micron Technology from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. UBS Group reduced their price target on shares of Micron Technology from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, June 28th. Susquehanna reaffirmed a “buy” rating and issued a $115.00 price target on shares of Micron Technology in a research note on Monday, May 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $120.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $86.54.

Micron Technology Profile

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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