Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Angeles Wealth Management LLC

Angeles Wealth Management LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 43.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,562 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,382 shares during the period. Angeles Wealth Management LLC’s holdings in Micron Technology were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $25,000. DecisionPoint Financial LLC acquired a new position in Micron Technology during the first quarter worth $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the 4th quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the 2nd quarter worth $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $29,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MU shares. Susquehanna cut their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley lifted their price target on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Mizuho increased their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a research report on Thursday, June 27th. Finally, Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.12.

Micron Technology Trading Up 0.7 %

NASDAQ:MU opened at $86.85 on Wednesday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The firm has a market cap of $96.30 billion, a PE ratio of -61.16 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $106.90 and a 200 day moving average price of $115.04.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the business posted ($1.57) EPS. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of the business’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 in the company, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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.