Sound View Wealth Advisors Group LLC Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Sound View Wealth Advisors Group LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,680 shares of the semiconductor manufacturer’s stock, valued at approximately $229,000.

Several other hedge funds also recently modified their holdings of the stock. Quadrant Capital Group LLC grew its stake in Micron Technology by 5.4% in the 4th quarter. Quadrant Capital Group LLC now owns 9,291 shares of the semiconductor manufacturer’s stock valued at $793,000 after purchasing an additional 472 shares during the period. Inceptionr LLC bought a new position in Micron Technology in the 4th quarter valued at $561,000. Barings LLC grew its stake in Micron Technology by 14.4% in the 4th quarter. Barings LLC now owns 4,575 shares of the semiconductor manufacturer’s stock valued at $390,000 after purchasing an additional 575 shares during the period. Heartland Advisors Inc. grew its stake in shares of Micron Technology by 2.3% during the 4th quarter. Heartland Advisors Inc. now owns 164,448 shares of the semiconductor manufacturer’s stock worth $14,034,000 after acquiring an additional 3,663 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in shares of Micron Technology by 10.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 5,109 shares of the semiconductor manufacturer’s stock worth $437,000 after acquiring an additional 488 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total value of $1,851,300.00. Following the completion of the transaction, the senior vice president now owns 138,387 shares in the company, valued at $17,079,723.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total value of $1,851,300.00. Following the sale, the senior vice president now owns 138,387 shares of the company’s stock, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. Insiders sold 417,446 shares of company stock worth $47,867,783 over the last quarter. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $125.29 on Friday. The stock has a fifty day simple moving average of $114.70 and a two-hundred day simple moving average of $93.53. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.03) earnings per share. As a group, equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Wall Street Analysts Forecast Growth

MU has been the subject of several analyst reports. Mizuho raised their target price on Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald raised their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Morgan Stanley raised their price target on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Finally, TD Cowen raised their price target on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.64.

Get Our Latest Analysis on Micron Technology

Micron Technology Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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