EP Wealth Advisors LLC Purchases 13,102 Shares of Micron Technology, Inc. (NASDAQ:MU)

EP Wealth Advisors LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 152.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,674 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,102 shares during the period. EP Wealth Advisors LLC’s holdings in Micron Technology were worth $1,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. boosted its holdings in shares of Micron Technology by 76.5% during the 4th quarter. Great Valley Advisor Group Inc. now owns 6,345 shares of the semiconductor manufacturer’s stock valued at $569,000 after purchasing an additional 2,751 shares during the last quarter. MAI Capital Management boosted its stake in Micron Technology by 88.5% during the fourth quarter. MAI Capital Management now owns 7,113 shares of the semiconductor manufacturer’s stock valued at $663,000 after buying an additional 3,340 shares during the last quarter. Advisor Resource Council bought a new position in Micron Technology during the fourth quarter valued at approximately $690,000. Charles Schwab Investment Management Inc. boosted its stake in Micron Technology by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,458,555 shares of the semiconductor manufacturer’s stock valued at $508,465,000 after buying an additional 143,084 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Micron Technology during the fourth quarter valued at approximately $1,276,000. Institutional investors own 79.66% of the company’s stock.

Micron Technology Stock Down 0.8 %

Shares of NASDAQ:MU opened at $52.69 on Friday. The company has a quick ratio of 2.44, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The stock has a market cap of $58.12 billion, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 2.70 and a beta of 1.30. The business’s 50 day moving average is $59.84 and its 200 day moving average is $66.76. Micron Technology, Inc. has a 52-week low of $51.40 and a 52-week high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last announced its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.17. The business had revenue of $8.64 billion for the quarter, compared to analysts’ expectations of $8.66 billion. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 8 EPS for the current year.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, July 8th. This is a boost from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio (DPR) is 5.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BNP Paribas assumed coverage on Micron Technology in a research note on Tuesday. They set an “outperform” rating and a $75.00 price target for the company. StockNews.com raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, September 7th. Mizuho dropped their price target on Micron Technology from $84.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $120.00 to $96.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. Finally, Exane BNP Paribas began coverage on Micron Technology in a research report on Tuesday. They set an “outperform” rating and a $75.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.71.

Insider Buying and Selling at Micron Technology

In other news, SVP Michael W. Bokan sold 16,600 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $63.82, for a total value of $1,059,412.00. Following the completion of the sale, the senior vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Company 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.

Further Reading

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

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