Waverly Advisors LLC Has $1.78 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Waverly Advisors LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 32.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,077 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,689 shares during the period. Waverly Advisors LLC’s holdings in Micron Technology were worth $1,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $25,000. Valued Wealth Advisors LLC raised its stake in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Tidemark LLC acquired a new position in Micron Technology in the 4th quarter valued at $25,000. Pingora Partners LLC bought a new position in Micron Technology in the 4th quarter valued at about $26,000. Finally, Riverview Trust Co bought a new stake in Micron Technology during the first quarter worth $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $109.02 on Wednesday. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $130.09 and its two-hundred day moving average price is $112.56.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is currently -32.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. Robert W. Baird upped their price target on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. UBS Group dropped their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Morgan Stanley boosted their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Finally, TD Cowen increased their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have given 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 $158.72.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was 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 in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold a total of 174,730 shares of company stock worth $22,485,299 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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.