Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 55.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,871 shares of the semiconductor manufacturer’s stock after buying an additional 3,180 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Micron Technology were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth about $33,000. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth about $33,000. Roxbury Financial LLC grew its stake in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at about $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. Barclays decreased their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley reduced their target price on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Rosenblatt Securities lowered their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Citigroup increased their price target on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $129.00.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 3,938 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the completion of the sale, the chief executive officer now owns 387,175 shares of the company’s stock, valued at approximately $42,929,964. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock valued at $4,665,124 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

NASDAQ:MU opened at $120.34 on Wednesday. The stock has a 50 day moving average of $90.13 and a two-hundred day moving average of $92.87. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The firm has a market cap of $134.49 billion, a P/E ratio of 28.86 and a beta of 1.28. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed 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 payout ratio is 11.03%.

Micron Technology 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.