Aprio Wealth Management LLC Acquires New Position in Micron Technology, Inc. (NASDAQ:MU)

Aprio Wealth Management LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the second quarter, HoldingsChannel.com reports. The firm bought 2,019 shares of the semiconductor manufacturer’s stock, valued at approximately $266,000.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Micron Technology by 499.3% during the fourth quarter. International Assets Investment Management LLC now owns 638,432 shares of the semiconductor manufacturer’s stock worth $54,484,000 after purchasing an additional 531,900 shares in the last quarter. Allworth Financial LP grew its holdings in Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 150 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Micron Technology by 4.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 13,724 shares of the semiconductor manufacturer’s stock valued at $1,171,000 after buying an additional 528 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Micron Technology by 6.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 8,721 shares of the semiconductor manufacturer’s stock worth $743,000 after buying an additional 550 shares in the last quarter. Finally, Investment Partners Asset Management Inc. bought a new position in shares of Micron Technology during the fourth quarter worth $474,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $4.89 during trading on Thursday, hitting $91.69. 17,037,334 shares of the stock traded hands, compared to its average volume of 21,364,629. The company has a market cap of $101.67 billion, a price-to-earnings ratio of -63.94 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $125.98 and a two-hundred day moving average price of $112.81. Micron Technology, Inc. has a 52-week low of $61.75 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the company posted ($1.57) EPS. The company’s revenue for the quarter was up 81.5% on a year-over-year basis. As a group, equities analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $123.01, for a total transaction of $1,476,120.00. Following the completion of the transaction, the executive vice president now owns 218,048 shares in the company, valued at approximately $26,822,084.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Sumit Sadana sold 12,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the sale, the executive vice president now directly owns 218,048 shares of the company’s stock, valued at $26,822,084.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,174 shares of company stock valued at $13,716,343. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MU. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a report on Thursday, June 27th. Barclays boosted their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a report on Tuesday, June 25th. Morgan Stanley upped their price objective on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. Finally, Stifel Nicolaus raised their target price on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.92.

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.