U.S. Capital Wealth Advisors LLC Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

U.S. Capital Wealth Advisors LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,373 shares of the semiconductor manufacturer’s stock after purchasing an additional 330 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Micron Technology were worth $1,312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MU. Northern Trust Corp lifted its stake in Micron Technology by 0.7% during the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after acquiring an additional 80,345 shares during the period. L2 Asset Management LLC lifted its stake in Micron Technology by 492.3% during the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after acquiring an additional 21,979 shares during the period. Invesco Ltd. lifted its stake in Micron Technology by 11.8% during the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after acquiring an additional 927,302 shares during the period. Merlin Capital Inc bought a new position in Micron Technology during the 3rd quarter valued at about $407,000. Finally, Amitell Capital Pte Ltd lifted its stake in Micron Technology by 97.9% during the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after acquiring an additional 47,105 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 3.4 %

Shares of MU opened at $118.60 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The company has a 50 day simple moving average of $108.95 and a two-hundred day simple moving average of $89.96. The firm has a market cap of $130.93 billion, a P/E ratio of -33.25 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the firm posted ($2.03) EPS. The company’s revenue was up 57.7% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Analyst Ratings Changes

MU has been the topic of several research analyst reports. Piper Sandler upped their target price on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $115.00 to $150.00 in a research note on Monday. Barclays increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. UBS Group increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Morgan Stanley increased their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction 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 transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,890 shares of company stock valued at $36,079,267. 0.32% of the stock is owned by corporate insiders.

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.