Good Steward Wealth Advisors LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Good Steward Wealth Advisors LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,807 shares of the semiconductor manufacturer’s stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $26,000. Midwest Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter valued at $33,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the first quarter valued at about $33,000. Curio Wealth LLC bought a new stake in 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 4th quarter worth about $37,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $121.82 on Friday. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $92.05 and its 200 day simple moving average is $93.23. The stock has a market cap of $136.14 billion, a P/E ratio of 29.21 and a beta of 1.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.41.

Micron Technology (NASDAQ:MU) last announced its 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 14.92% and a return on equity of 10.87%. 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 firm posted $0.42 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company’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 sale, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 2,290 shares of Micron Technology stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $120.31, for a total transaction of $275,509.90. Following the transaction, the chief executive officer now owns 384,885 shares of the company’s stock, valued at $46,305,514.35. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,404 shares of company stock worth $5,572,867 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. Citigroup raised their price objective on Micron Technology from $110.00 to $130.00 and gave the company a “buy” rating in a report on Monday, June 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a research note on Monday, April 28th. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Morgan Stanley reduced their target price 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. Finally, Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $129.00.

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.