Signal Advisors Wealth LLC Has $1.16 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Signal Advisors Wealth LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,322 shares of the semiconductor manufacturer’s stock after acquiring an additional 578 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Micron Technology were worth $1,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at $33,000. Roxbury Financial LLC grew its holdings in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 300 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the 4th quarter valued at $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ:MU opened at $108.56 on Friday. The stock’s 50-day simple moving average is $83.97 and its 200 day simple moving average is $92.17. The firm has a market capitalization of $121.32 billion, a PE ratio of 31.29 and a beta of 1.28. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results 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 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 the consensus estimate of $7.93 billion. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, 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 given 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 0.42%. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Buying and Selling at Micron Technology

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 transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MU shares. Wedbush restated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Rosenblatt Securities decreased their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Mizuho increased their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.20.

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.