EverSource Wealth Advisors LLC Buys 2,027 Shares of Micron Technology, Inc. (NASDAQ:MU)

EverSource Wealth Advisors LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 45.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,512 shares of the semiconductor manufacturer’s stock after buying an additional 2,027 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Micron Technology were worth $857,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. DecisionPoint Financial LLC bought a new position in Micron Technology during the first quarter worth $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the 2nd quarter worth about $28,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC boosted 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 valued at $29,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MU. Mizuho lifted their target price on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. The Goldman Sachs Group boosted their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. TD Cowen reduced their price target on shares of Micron Technology from $160.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Citigroup dropped their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Stifel Nicolaus reduced their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $145.65.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $93.57 on Tuesday. 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 firm has a market cap of $103.75 billion, a PE ratio of -65.89 and a beta of 1.17. The business has a 50 day moving average of $99.06 and a 200-day moving average of $114.79. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is -32.39%.

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.