Wealth Alliance Sells 513 Shares of Micron Technology, Inc. (NASDAQ:MU)

Wealth Alliance decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 9.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,809 shares of the semiconductor manufacturer’s stock after selling 513 shares during the period. Wealth Alliance’s holdings in Micron Technology were worth $633,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its position in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. Finally, LRI Investments LLC increased its holdings in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday. Needham & Company LLC reduced their price target on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Piper Sandler boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. KeyCorp reduced their price target on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus boosted their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.54.

Micron Technology Price Performance

Shares of MU stock opened at $87.35 on Thursday. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The business has a fifty day simple moving average of $101.48 and a 200 day simple moving average of $114.77. 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 market cap of $96.86 billion, a P/E ratio of -61.51 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the firm earned ($1.57) EPS. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. On average, sell-side analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. Micron Technology’s payout ratio is presently -32.39%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

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.