Prentice Wealth Management LLC Buys 156 Shares of Micron Technology, Inc. (NASDAQ:MU)

Prentice Wealth Management LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,162 shares of the semiconductor manufacturer’s stock after purchasing an additional 156 shares during the period. Prentice Wealth Management LLC’s holdings in Micron Technology were worth $275,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new position in Micron Technology in the fourth quarter worth $26,000. Beacon Capital Management LLC increased its stake in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter valued at about $33,000. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $33,000. Finally, Roxbury Financial LLC boosted its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the sale, the chief executive officer now directly owns 387,175 shares of the company’s stock, valued at approximately $42,929,964. The trade was 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 hyperlink. Also, 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 value of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock worth $4,665,124 in the last three months. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MU shares. JPMorgan Chase & Co. reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Barclays reduced 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. Finally, Citigroup boosted their price objective on shares of Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Micron Technology Stock Down 0.5%

MU stock opened at $115.60 on Friday. The business’s 50-day moving average price is $88.20 and its 200-day moving average price is $92.57. The stock has a market cap of $129.19 billion, a P/E ratio of 33.31 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 issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 0.40%. Micron Technology’s dividend payout ratio is presently 11.03%.

About Micron Technology

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.