Accel Wealth Management Takes $487,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Accel Wealth Management purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 4,128 shares of the semiconductor manufacturer’s stock, valued at approximately $487,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Micron Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after buying an additional 755,588 shares during the period. Sanders Capital LLC lifted its stake in shares of Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after purchasing an additional 503,923 shares during the period. Wellington Management Group LLP lifted its stake in shares of Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. Morgan Stanley lifted its stake in shares of Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, Capital International Investors lifted its stake in shares of Micron Technology by 2.3% in the 4th quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock valued at $1,357,392,000 after purchasing an additional 363,902 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,730 shares of company stock valued at $31,921,649. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Bank of America boosted their target price on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Citigroup boosted their target price on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Cantor Fitzgerald boosted their target price on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $4.23 during trading on Thursday, hitting $136.82. 14,507,146 shares of the company were exchanged, compared to its average volume of 27,836,970. The company has a market cap of $151.71 billion, a PE ratio of -96.35 and a beta of 1.18. The stock has a 50 day moving average of $129.42 and a 200 day moving average of $107.38. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week 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 for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.57) earnings per share. As a group, equities research analysts predict 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. Stockholders of record on Monday, July 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.34%. Micron Technology’s payout ratio is currently -32.39%.

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.