Keystone Wealth Services LLC Invests $304,000 in Micron Technology, Inc. (NASDAQ:MU)

Keystone Wealth Services LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,501 shares of the semiconductor manufacturer’s stock, valued at approximately $304,000.

Several other large investors have also recently bought and sold shares of MU. Norges Bank purchased a new position in Micron Technology in the fourth quarter valued at $1,470,875,000. Capital World Investors boosted its stake in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares in the last quarter. FMR LLC boosted its stake in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital Research Global Investors boosted its stake in Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after acquiring an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors boosted its stake in Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after acquiring an additional 4,375,232 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MU. Robert W. Baird upped their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Barclays decreased their price objective on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. UBS Group upped their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Rosenblatt Securities decreased their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $129.00.

Micron Technology Trading Up 3.7%

Shares of Micron Technology stock opened at $119.84 on Tuesday. 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 stock has a market cap of $133.93 billion, a PE ratio of 34.54 and a beta of 1.28. The company has a 50-day moving average of $89.28 and a two-hundred day moving average of $92.68.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were 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 trade represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 3,938 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.88, for a total transaction of $436,645.44. Following the transaction, the chief executive officer now directly owns 387,175 shares of the company’s stock, valued at approximately $42,929,964. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,904 shares of company stock valued at $4,665,124. Corporate insiders own 0.30% 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.