B. Riley Wealth Advisors Inc. Grows Position in Micron Technology, Inc. (NASDAQ:MU)

B. Riley Wealth Advisors Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,124 shares of the semiconductor manufacturer’s stock after buying an additional 1,160 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Micron Technology were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Quarry LP boosted its stake in shares of Micron Technology by 130.5% during the second quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock worth $79,000 after buying an additional 342 shares during the period. NewEdge Advisors LLC lifted its position in Micron Technology by 79.4% during the 2nd quarter. NewEdge Advisors LLC now owns 95,088 shares of the semiconductor manufacturer’s stock worth $12,507,000 after acquiring an additional 42,080 shares during the period. Silver Lake Advisory LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $512,000. Nemes Rush Group LLC acquired a new position in shares of Micron Technology in the second quarter valued at approximately $49,000. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter worth approximately $6,342,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 3.5 %

Shares of MU stock opened at $103.71 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. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The firm’s 50 day moving average price is $97.40 and its two-hundred day moving average price is $115.05. The stock has a market cap of $115.00 billion, a price-to-earnings ratio of -73.04, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. On average, analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is presently -32.39%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MU shares. Wells Fargo & Company reduced their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Bank of America lifted their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Stifel Nicolaus decreased their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Raymond James increased their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

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.