9258 Wealth Management LLC Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

9258 Wealth Management LLC cut its position in Micron Technology, Inc. (NASDAQ:MU) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,060 shares of the semiconductor manufacturer’s stock after selling 388 shares during the quarter. Micron Technology accounts for 0.8% of 9258 Wealth Management LLC’s portfolio, making the stock its 27th largest position. 9258 Wealth Management LLC’s holdings in Micron Technology were worth $4,875,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Range Financial Group LLC bought a new position in Micron Technology during the second quarter valued at about $350,000. TD Asset Management Inc lifted its stake in Micron Technology by 2.6% in the second quarter. TD Asset Management Inc now owns 550,866 shares of the semiconductor manufacturer’s stock valued at $72,455,000 after acquiring an additional 13,728 shares during the last quarter. FineMark National Bank & Trust raised its holdings in Micron Technology by 4.1% during the second quarter. FineMark National Bank & Trust now owns 3,696 shares of the semiconductor manufacturer’s stock valued at $486,000 after buying an additional 147 shares in the last quarter. FDx Advisors Inc. boosted its position in Micron Technology by 17.1% during the second quarter. FDx Advisors Inc. now owns 3,464 shares of the semiconductor manufacturer’s stock worth $456,000 after purchasing an additional 506 shares during the period. Finally, Belpointe Asset Management LLC boosted its stake in Micron Technology by 253.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 20,674 shares of the semiconductor manufacturer’s stock valued at $2,719,000 after purchasing an additional 14,820 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MU shares. KeyCorp dropped their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Needham & Company LLC decreased their price target on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Morgan Stanley boosted their price target on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.12.

Micron Technology Trading Up 0.4 %

NASDAQ:MU traded up $0.33 on Thursday, reaching $89.62. 5,260,969 shares of the company’s stock were exchanged, compared to its average volume of 21,263,020. The firm has a market capitalization of $99.37 billion, a price-to-earnings ratio of -63.54 and a beta of 1.18. 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 52-week low of $63.83 and a 52-week high of $157.54. The business has a fifty day moving average of $110.48 and a 200-day moving average of $114.69.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (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 firm 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 firm earned ($1.57) EPS. The business’s revenue was up 81.5% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is currently -32.39%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’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 sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,174 shares of company stock valued at $6,827,113. 0.32% of the stock is currently owned by corporate insiders.

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.