WESPAC Advisors SoCal LLC Takes $230,000 Position in Micron Technology, Inc. (NASDAQ:MU)

WESPAC Advisors SoCal LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the first quarter, HoldingsChannel.com reports. The firm bought 1,950 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Micron Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after acquiring an additional 755,588 shares during the period. Sanders Capital LLC boosted its position in shares of Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares during the period. Wellington Management Group LLP boosted its position in shares of Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Morgan Stanley boosted its position in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after acquiring an additional 2,852,688 shares during the period. Finally, Capital International Investors lifted its position in Micron Technology by 2.3% during the fourth quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock worth $1,357,392,000 after purchasing an additional 363,902 shares during the period. Institutional investors 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 Micron Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, 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 value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The disclosure for this sale can be found here. Insiders sold a total of 309,730 shares of company stock valued at $38,626,279 in the last quarter. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a research note on Thursday. Robert W. Baird increased their price objective on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Raymond James increased their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, Piper Sandler increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.52.

Micron Technology Trading Down 0.0 %

Micron Technology stock traded down $0.01 during mid-day trading on Monday, hitting $131.52. 24,722,528 shares of the stock were exchanged, compared to its average volume of 20,771,350. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $157.54. The firm’s fifty day simple moving average is $128.07 and its two-hundred day simple moving average is $106.46. The stock has a market capitalization of $145.83 billion, a price-to-earnings ratio of -92.62 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.57) EPS. Analysts forecast that Micron Technology, Inc. will post 0.39 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Micron Technology Company 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.