Kestra Private Wealth Services LLC Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Kestra Private Wealth Services LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,854 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,196 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Micron Technology were worth $6,644,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management purchased a new stake in Micron Technology in the third quarter worth about $27,000. VisionPoint Advisory Group LLC raised its stake in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. lifted its position in shares of Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC grew its stake in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Mizuho upped their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Trading Up 0.8 %

Micron Technology stock traded up $0.95 during mid-day trading on Tuesday, hitting $115.31. The company’s stock had a trading volume of 6,230,560 shares, compared to its average volume of 20,310,559. The company has a 50 day moving average of $106.64 and a 200-day moving average of $88.74. The stock has a market cap of $127.69 billion, a PE ratio of -33.51 and a beta of 1.27. 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, Inc. has a one year low of $59.55 and a one year high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the company earned ($2.03) EPS. The business’s revenue was up 57.7% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,890 shares of company stock valued at $29,129,527. 0.32% of the stock is currently owned by corporate insiders.

About Micron Technology

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.