Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by 180 Wealth Advisors LLC

Posted by on Jun 21st, 2023

180 Wealth Advisors LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,630 shares of the semiconductor manufacturer’s stock after purchasing an additional 256 shares during the period. 180 Wealth Advisors LLC’s holdings in Micron Technology were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MU. Sei Investments Co. lifted its stake in Micron Technology by 12.8% during the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock worth $27,314,000 after acquiring an additional 39,693 shares in the last quarter. Prudential PLC acquired a new stake in Micron Technology in the 1st quarter valued at about $1,672,000. Brighton Jones LLC raised its position in Micron Technology by 12.3% in the 1st quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after purchasing an additional 318 shares in the last quarter. Baird Financial Group Inc. raised its position in Micron Technology by 9.2% in the 1st quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock valued at $15,611,000 after purchasing an additional 16,953 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its position in Micron Technology by 52.5% in the 1st quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $66.90 on Wednesday. Micron Technology, Inc. has a 1-year low of $48.43 and a 1-year high of $74.77. The business has a 50-day moving average of $64.87 and a 200-day moving average of $59.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.17 and a quick ratio of 2.62. The company has a market capitalization of $72.99 billion, a price-to-earnings ratio of 48.13 and a beta of 1.39.

Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.16). Micron Technology had a return on equity of 3.98% and a net margin of 6.99%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the company earned $2.05 EPS. Micron Technology’s quarterly revenue was down 52.6% on a year-over-year basis. On average, equities analysts anticipate that Micron Technology, Inc. will post -5.28 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Investors of record on Monday, April 10th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Thursday, April 6th. Micron Technology’s dividend payout ratio is currently 33.09%.

Insider Activity at Micron Technology

In related news, SVP Michael W. Bokan sold 20,000 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $63.14, for a total value of $1,262,800.00. Following the completion of the transaction, the senior vice president now owns 175,086 shares of the company’s stock, valued at $11,054,930.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, Director Richard M. Beyer sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $59.88, for a total transaction of $239,520.00. Following the transaction, the director now owns 95,660 shares of the company’s stock, valued at approximately $5,728,120.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael W. Bokan sold 20,000 shares of the stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $63.14, for a total value of $1,262,800.00. Following the transaction, the senior vice president now directly owns 175,086 shares in the company, valued at approximately $11,054,930.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,000 shares of company stock valued at $2,902,320. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America increased their price target on Micron Technology from $58.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday, March 29th. Needham & Company LLC increased their price target on Micron Technology from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, March 29th. Susquehanna increased their price target on Micron Technology from $65.00 to $90.00 and gave the company a “positive” rating in a research report on Wednesday, March 29th. JPMorgan Chase & Co. increased their price target on Micron Technology from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 29th. Finally, VNET Group reiterated a “maintains” rating on shares of Micron Technology in a report on Monday, June 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.38.

Micron Technology Company Profile

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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 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.

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

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