Sagespring Wealth Partners LLC Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sagespring Wealth Partners LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 55.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,871 shares of the semiconductor manufacturer’s stock after buying an additional 3,180 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Micron Technology were worth $771,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at $26,000. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at about $33,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the first quarter worth about $33,000. Curio Wealth LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $34,000. Finally, Hurley Capital LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MU. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. Barclays decreased their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. Finally, China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.00.

Insider Activity

In related news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction on 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 transaction, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,904 shares of company stock valued at $4,665,124. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 0.4%

Shares of NASDAQ MU opened at $120.34 on Wednesday. The business has a 50-day moving average price of $90.13 and a 200 day moving average price of $92.87. The stock has a market cap of $134.49 billion, a PE ratio of 28.86 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend 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 presently 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.