Apollon Wealth Management LLC Buys 271 Shares of Micron Technology, Inc. (NASDAQ:MU)

Apollon Wealth Management LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,716 shares of the semiconductor manufacturer’s stock after buying an additional 271 shares during the quarter. Apollon Wealth Management LLC’s holdings in Micron Technology were worth $2,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in Micron Technology in the third quarter valued at $26,000. Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. DT Investment Partners LLC increased its holdings in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth $39,000. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MU. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Robert W. Baird decreased their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company lowered their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Price Performance

Shares of MU opened at $92.30 on Monday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The stock’s fifty day moving average is $96.63 and its 200-day moving average is $99.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a market capitalization of $102.84 billion, a price-to-earnings ratio of 26.60 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) EPS. Micron Technology’s revenue was up 84.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio is currently 13.26%.

Micron Technology Profile

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.