9258 Wealth Management LLC Sells 5,892 Shares of Micron Technology, Inc. (NASDAQ:MU)

9258 Wealth Management LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,378 shares of the semiconductor manufacturer’s stock after selling 5,892 shares during the period. 9258 Wealth Management LLC’s holdings in Micron Technology were worth $3,104,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MU. Jump Financial LLC bought a new stake in Micron Technology in the third quarter worth about $208,000. Atria Investments Inc raised its position in shares of Micron Technology by 9.1% in the third quarter. Atria Investments Inc now owns 27,072 shares of the semiconductor manufacturer’s stock valued at $1,843,000 after purchasing an additional 2,249 shares during the period. Merit Financial Group LLC raised its position in shares of Micron Technology by 44.2% in the third quarter. Merit Financial Group LLC now owns 8,677 shares of the semiconductor manufacturer’s stock valued at $590,000 after purchasing an additional 2,658 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Micron Technology by 10.6% in the third quarter. Kingsview Wealth Management LLC now owns 3,791 shares of the semiconductor manufacturer’s stock valued at $258,000 after purchasing an additional 364 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Micron Technology in the third quarter valued at approximately $2,200,000. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. UBS Group boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Monday, March 18th. Finally, Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.12.

View Our Latest Stock Report on MU

Micron Technology Price Performance

Shares of Micron Technology stock opened at $125.00 on Friday. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $133.30. The stock has a market capitalization of $138.42 billion, a price-to-earnings ratio of -36.23 and a beta of 1.27. The company has a fifty day moving average of $120.87 and a 200-day moving average of $97.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business posted ($2.03) EPS. The firm’s revenue was up 57.7% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 0.29 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The sale 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 Sumit Sadana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The disclosure for this sale can be found here. Insiders sold 417,446 shares of company stock worth $48,482,523 in the last three months. 0.32% of the stock is owned by insiders.

Micron Technology Profile

(Free Report)

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.

See Also

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

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