Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 67.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,684 shares of the semiconductor manufacturer’s stock after buying an additional 1,882 shares during the period. Wedmont Private Capital’s holdings in Micron Technology were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. SOA Wealth Advisors LLC. lifted its position in Micron Technology by 144.9% during the first 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 in the last quarter. Concorde Financial Corp purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $27,000. Core Alternative Capital raised its stake in shares of Micron Technology by 912.5% during the first quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 365 shares during the period. BDO Wealth Advisors LLC raised its stake in shares of Micron Technology by 46.7% during the first quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 140 shares during the period. Finally, Vectors Research Management LLC raised its stake in shares of Micron Technology by 60.3% during the fourth quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 140 shares during the period. 79.66% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 1.4 %

Micron Technology stock opened at $52.10 on Tuesday. The company has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $65.93. The firm has a market capitalization of $57.47 billion, a P/E ratio of 5.94, a P/E/G ratio of 3.06 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. Micron Technology, Inc. has a one year low of $51.40 and a one year 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 analysts’ consensus estimates of $2.33 by $0.17. The firm had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.66 billion. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. Micron Technology’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 7.9 earnings per share for the current year.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, July 8th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio is currently 5.25%.

Insider Activity

In other news, SVP Michael W. Bokan sold 16,600 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 119,126 shares in the company, valued at approximately $7,602,621.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MU. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Micron Technology from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Barclays dropped their price objective on shares of Micron Technology from $105.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Wells Fargo & Company dropped their price target on shares of Micron Technology from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Wedbush cut their price target on shares of Micron Technology from $120.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Finally, BNP Paribas initiated coverage on shares of Micron Technology in a report on Tuesday, September 13th. They issued an “outperform” rating and a $75.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.54.

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.

See Also

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

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