Keystone Wealth Services LLC Makes New $304,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Keystone Wealth Services LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 3,501 shares of the semiconductor manufacturer’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xcel Wealth Management LLC grew its stake in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. boosted its holdings in shares of Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock valued at $1,941,000 after purchasing an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after purchasing an additional 119 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $119.84 on Tuesday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $133.93 billion, a P/E ratio of 34.54 and a beta of 1.28. The company’s fifty day moving average price is $89.28 and its two-hundred day moving average price is $92.68.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping 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 firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company 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 dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. The trade was a 9.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares of the company’s stock, valued at $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,904 shares of company stock valued at $4,665,124. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Morgan Stanley decreased their price target on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Mizuho lifted their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. Finally, Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.00.

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.