Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 28.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,470 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,393 shares during the quarter. IHT Wealth Management LLC’s holdings in Micron Technology were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in Micron Technology by 47.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 37,497 shares of the semiconductor manufacturer’s stock worth $1,879,000 after acquiring an additional 12,069 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Micron Technology during the third quarter worth about $15,002,000. Power Corp of Canada acquired a new stake in Micron Technology during the third quarter worth about $1,389,000. River & Mercantile Asset Management LLP increased its stake in Micron Technology by 71.6% during the third quarter. River & Mercantile Asset Management LLP now owns 28,742 shares of the semiconductor manufacturer’s stock worth $1,440,000 after acquiring an additional 11,990 shares during the last quarter. Finally, National Pension Service increased its stake in Micron Technology by 4.2% during the third quarter. National Pension Service now owns 2,074,304 shares of the semiconductor manufacturer’s stock worth $103,736,000 after acquiring an additional 83,868 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $53.40, for a total transaction of $1,068,000.00. Following the sale, the executive vice president now directly owns 228,340 shares of the company’s stock, valued at $12,193,356. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $53.40, for a total transaction of $1,068,000.00. Following the sale, the executive vice president now directly owns 228,340 shares of the company’s stock, valued at $12,193,356. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 24,000 shares of Micron Technology stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $61.91, for a total value of $1,485,840.00. Following the sale, the senior vice president now directly owns 118,885 shares in the company, valued at $7,360,170.35. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock valued at $3,982,190 over the last three months. 0.33% of the stock is owned by corporate insiders.

Micron Technology Stock Up 0.2 %

MU stock opened at $56.66 on Friday. Micron Technology, Inc. has a twelve month low of $48.43 and a twelve month high of $86.24. The company has a market cap of $61.83 billion, a PE ratio of 10.28 and a beta of 1.39. The business’s 50-day simple moving average is $58.60 and its 200 day simple moving average is $55.78. The company has a quick ratio of 2.23, a current ratio of 3.51 and a debt-to-equity ratio of 0.20.

Micron Technology (NASDAQ:MU – Get Rating) last released its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the business earned $2.07 earnings per share. The firm’s quarterly revenue was down 46.9% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post -2.71 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Tuesday, January 3rd were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 8.35%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MU shares. Mizuho upgraded Micron Technology from a “neutral” rating to a “buy” rating and upped their price target for the stock from $48.00 to $72.00 in a research note on Friday, February 10th. StockNews.com assumed coverage on Micron Technology in a research report on Thursday. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft downgraded Micron Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $55.00 in a research report on Monday, December 12th. Cowen decreased their target price on Micron Technology from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, December 22nd. Finally, Argus downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.26.

Micron Technology Company Profile

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.