Micron Technology, Inc. (NASDAQ:MU) Shares Bought by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,540 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,736 shares during the period. TrinityPoint Wealth LLC’s holdings in Micron Technology were worth $2,948,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Lincoln National Corp grew its holdings in Micron Technology by 8.6% during the 3rd quarter. Lincoln National Corp now owns 7,111 shares of the semiconductor manufacturer’s stock valued at $484,000 after purchasing an additional 563 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Micron Technology by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 942,648 shares of the semiconductor manufacturer’s stock valued at $64,128,000 after purchasing an additional 39,769 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Micron Technology by 1.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 57,852 shares of the semiconductor manufacturer’s stock valued at $3,936,000 after purchasing an additional 976 shares in the last quarter. Smithfield Trust Co grew its holdings in Micron Technology by 222.6% during the 3rd quarter. Smithfield Trust Co now owns 7,159 shares of the semiconductor manufacturer’s stock valued at $487,000 after purchasing an additional 4,940 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. KeyCorp increased their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $115.00 to $150.00 in a research note on Monday, May 6th. Mizuho increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.92.

Check Out Our Latest Analysis on Micron Technology

Micron Technology Stock Up 2.6 %

Micron Technology stock opened at $129.49 on Monday. The stock has a market cap of $143.39 billion, a price-to-earnings ratio of -37.53 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $118.05 and its two-hundred day moving average price is $95.84. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $131.95.

Micron Technology (NASDAQ:MU – Get Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the company earned ($2.03) EPS. On average, analysts expect that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.36%. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the transaction, the executive vice president now directly owns 158,617 shares in the company, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,446 shares of company stock valued at $48,198,323. Company insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

(Free Report)

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.

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