Wealth Management Partners LLC Purchases 328 Shares of Micron Technology, Inc. (NASDAQ:MU)

Wealth Management Partners LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% during the first quarter, Holdings Channel reports. The firm owned 8,994 shares of the semiconductor manufacturer’s stock after acquiring an additional 328 shares during the period. Wealth Management Partners LLC’s holdings in Micron Technology were worth $782,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the 4th quarter valued at $26,000. Beacon Capital Management LLC grew its position in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the fourth quarter worth $33,000. Activest Wealth Management raised its stake in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology during the fourth quarter valued at about $34,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MU. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a research note on Monday, April 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Citigroup decreased their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Robert W. Baird increased their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.48.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 1.0%

Shares of MU stock opened at $103.25 on Thursday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $83.19 and its 200 day moving average is $92.03. The stock has a market capitalization of $115.39 billion, a P/E ratio of 29.76 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

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.