Micron Technology, Inc. (NASDAQ:MU) Position Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,485 shares of the semiconductor manufacturer’s stock after acquiring an additional 596 shares during the period. EverSource Wealth Advisors LLC’s holdings in Micron Technology were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Atria Investments Inc increased its position in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the last quarter. Retirement Group LLC increased its position in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 100 shares during the last quarter. AIA Group Ltd increased its position in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after buying an additional 101 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after buying an additional 104 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MU shares. 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. Wedbush reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Barclays upped their target price on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, KeyCorp upped their target price on Micron Technology from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Two 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, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

Insider Activity

In other news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,730 shares of company stock worth $22,485,299. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU traded down $8.81 on Friday, hitting $92.70. 36,039,440 shares of the company’s stock were exchanged, compared to its average volume of 23,484,150. The stock has a 50-day moving average of $128.53 and a 200-day moving average of $112.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54. The stock has a market cap of $102.79 billion, a price-to-earnings ratio of -65.28 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating 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 company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the prior year, the company earned ($1.57) EPS. Micron Technology’s revenue was up 81.5% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

About Micron Technology

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.