Stratos Wealth Advisors LLC Invests $275,000 in Micron Technology, Inc. (NASDAQ:MU)

Posted by Defense World Staff on Apr 1st, 2023

Stratos Wealth Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,498 shares of the semiconductor manufacturer’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new position in shares of Micron Technology during the 3rd quarter valued at about $374,114,000. Fairfax Financial Holdings Ltd. Can lifted its stake in shares of Micron Technology by 399.3% during the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 3,462,049 shares of the semiconductor manufacturer’s stock worth $173,483,000 after purchasing an additional 2,768,649 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Micron Technology by 3,953.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,665,173 shares of the semiconductor manufacturer’s stock worth $133,525,000 after purchasing an additional 2,599,420 shares during the last quarter. FIFTHDELTA Ltd increased its position in Micron Technology by 288.7% during the 2nd quarter. FIFTHDELTA Ltd now owns 3,377,400 shares of the semiconductor manufacturer’s stock valued at $186,703,000 after buying an additional 2,508,600 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Micron Technology during the 3rd quarter valued at about $111,372,000. Institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MU. Mizuho raised Micron Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $48.00 to $72.00 in a report on Friday, February 10th. StockNews.com cut Micron Technology from a “hold” rating to a “sell” rating in a report on Thursday. Evercore ISI lifted their price objective on Micron Technology from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, March 27th. Cowen decreased their price target on Micron Technology from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, December 22nd. Finally, TD Cowen boosted their target price on Micron Technology from $66.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Micron Technology Stock Down 4.4 %

Shares of Micron Technology stock opened at $60.34 on Friday. Micron Technology, Inc. has a 1 year low of $48.43 and a 1 year high of $86.24. The company has a 50-day moving average of $59.24 and a 200 day moving average of $56.05. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 43.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.51 and a quick ratio of 2.23.

Micron Technology (NASDAQ:MU – Get Rating) last released its earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.16). Micron Technology had a return on equity of 3.94% and a net margin of 6.99%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the business posted $2.05 EPS. Micron Technology’s revenue was down 52.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post -3.01 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Monday, April 10th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, April 6th. Micron Technology’s dividend payout ratio (DPR) is presently 33.09%.

Insiders Place Their Bets

In other Micron Technology news, SVP Robert P. Beard sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $61.25, for a total transaction of $183,750.00. Following the sale, the senior vice president now owns 42,840 shares of the company’s stock, valued at $2,623,950. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP April S. Arnzen sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the sale, the senior vice president now directly owns 118,885 shares of the company’s stock, valued at approximately $7,360,170.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert P. Beard sold 3,000 shares of the firm’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $61.25, for a total value of $183,750.00. Following the completion of the sale, the senior vice president now owns 42,840 shares in the company, valued at $2,623,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,000 shares of company stock valued at $5,182,190. Insiders own 0.33% of the company’s stock.

About Micron Technology

(Get Rating)

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.