Philip James Wealth Mangement LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Philip James Wealth Mangement LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,578 shares of the semiconductor manufacturer’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcend Capital Advisors LLC lifted its position in Micron Technology by 44.7% during the first quarter. Transcend Capital Advisors LLC now owns 8,911 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 2,752 shares during the period. Diversified Trust Co raised its position in shares of Micron Technology by 5.4% in the 1st quarter. Diversified Trust Co now owns 5,100 shares of the semiconductor manufacturer’s stock valued at $443,000 after buying an additional 263 shares in the last quarter. Beacon Financial Advisory LLC lifted its holdings in shares of Micron Technology by 8.9% during the 1st quarter. Beacon Financial Advisory LLC now owns 3,458 shares of the semiconductor manufacturer’s stock worth $300,000 after acquiring an additional 283 shares during the period. Total Wealth Planning & Management Inc. boosted its position in shares of Micron Technology by 39.6% during the 1st quarter. Total Wealth Planning & Management Inc. now owns 9,935 shares of the semiconductor manufacturer’s stock worth $863,000 after acquiring an additional 2,816 shares in the last quarter. Finally, PDS Planning Inc increased its stake in Micron Technology by 14.8% in the first quarter. PDS Planning Inc now owns 5,076 shares of the semiconductor manufacturer’s stock valued at $441,000 after acquiring an additional 656 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Down 1.0%

Shares of NASDAQ MU opened at $124.76 on Friday. The company’s 50 day moving average price is $98.71 and its 200-day moving average price is $94.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.13. The company has a market capitalization of $139.43 billion, a P/E ratio of 22.48 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the firm earned $0.62 earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. Micron Technology’s dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

Several brokerages have commented on MU. Barclays boosted their target price on Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday. Susquehanna increased their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday. Bank of America raised their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Royal Bank Of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.21.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 3,562 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.46, for a total transaction of $393,458.52. Following the sale, the chief executive officer now directly owns 391,113 shares of the company’s stock, valued at approximately $43,202,341.98. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,404 shares of company stock valued at $8,509,167 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

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.