Micron Technology, Inc. (NASDAQ:MU) Shares Sold by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 10,151 shares of the semiconductor manufacturer’s stock after selling 769 shares during the period. WCG Wealth Advisors LLC’s holdings in Micron Technology were worth $854,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $33,000. Activest Wealth Management lifted its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology during the fourth quarter worth $34,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology during the fourth quarter worth $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Barclays reduced their target price on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Wedbush reissued an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $126.48.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was 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 in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock worth $1,858,424 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Down 1.5%

Shares of NASDAQ MU opened at $93.37 on Friday. 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 capitalization of $104.35 billion, a PE ratio of 26.91 and a beta of 1.21. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The stock has a fifty day simple moving average of $82.82 and a 200-day simple moving average of $92.48.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is currently 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.