SteelPeak Wealth LLC Buys 11,461 Shares of Micron Technology, Inc. (NASDAQ:MU)

SteelPeak Wealth LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 212.2% during the 1st quarter, HoldingsChannel reports. The fund owned 16,861 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,461 shares during the period. SteelPeak Wealth LLC’s holdings in Micron Technology were worth $1,467,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the first quarter valued at approximately $33,000. Curio Wealth LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Hurley Capital LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $37,000. Finally, Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 300 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $124.53 on Friday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $135.35. The business’s fifty day simple moving average is $108.03 and its 200-day simple moving average is $95.92. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market cap of $139.36 billion, a PE ratio of 22.44 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the prior year, the business posted $0.62 EPS. Analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm 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 presently 8.29%.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the sale, the director owned 22,550 shares in the company, valued at approximately $2,734,864. This represents a 9.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,446 shares of company stock worth $31,154,717. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MU. TD Cowen boosted their target price on Micron Technology from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. The Goldman Sachs Group started coverage on Micron Technology in a research report on Thursday. They set a “neutral” rating and a $130.00 target price for the company. Rosenblatt Securities boosted their price target on Micron Technology from $172.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Needham & Company LLC boosted their price target on Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.44.

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.