Abundance Wealth Counselors Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Abundance Wealth Counselors purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the semiconductor manufacturer’s stock, valued at approximately $236,000.

Several other large investors also recently modified their holdings of the stock. Revolve Wealth Partners LLC raised its position in shares of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the period. Sandy Spring Bank grew its stake in shares of Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after acquiring an additional 130 shares in the last quarter. First Affirmative Financial Network grew its stake in shares of Micron Technology by 4.7% in the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock valued at $347,000 after acquiring an additional 131 shares in the last quarter. HMS Capital Management LLC grew its stake in shares of Micron Technology by 0.7% in the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after acquiring an additional 138 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in shares of Micron Technology by 11.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after acquiring an additional 140 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 3.2 %

Shares of NASDAQ MU opened at $136.82 on Thursday. The company has a 50 day simple moving average of $128.92 and a 200 day simple moving average of $107.17. The firm has a market cap of $151.71 billion, a PE ratio of -96.35 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the business earned ($1.57) EPS. The company’s revenue was up 81.5% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.34%. Micron Technology’s payout ratio is -32.39%.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Needham & Company LLC upped their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Wells Fargo & Company increased their price objective on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.52.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $122.60, for a total value of $858,200.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $89,321,088.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 257,730 shares of company stock worth $31,921,649. 0.32% of the stock is currently owned by insiders.

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.