Axxcess Wealth Management LLC Cuts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Axxcess Wealth Management LLC lowered its position in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,977 shares of the semiconductor manufacturer’s stock after selling 463 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Micron Technology were worth $496,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. BDO Wealth Advisors LLC raised its stake in shares of Micron Technology by 46.7% during the 1st quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 140 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Micron Technology by 26.5% during the 1st quarter. Washington Trust Advisors Inc. now owns 678 shares of the semiconductor manufacturer’s stock worth $53,000 after buying an additional 142 shares during the last quarter. Penobscot Wealth Management raised its stake in shares of Micron Technology by 1.5% during the 2nd quarter. Penobscot Wealth Management now owns 11,475 shares of the semiconductor manufacturer’s stock worth $634,000 after buying an additional 167 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of Micron Technology by 6.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock worth $210,000 after buying an additional 168 shares during the last quarter. Finally, X Square Capital LLC raised its stake in shares of Micron Technology by 0.3% during the 2nd quarter. X Square Capital LLC now owns 59,283 shares of the semiconductor manufacturer’s stock worth $3,277,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MU. Summit Insights raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Friday, September 30th. BMO Capital Markets dropped their price objective on Micron Technology from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, September 30th. Morgan Stanley dropped their price objective on Micron Technology from $56.00 to $49.00 and set an “underweight” rating for the company in a research report on Friday, September 30th. Wells Fargo & Company dropped their price objective on Micron Technology from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, September 21st. Finally, The Goldman Sachs Group dropped their price objective on Micron Technology to $62.00 in a research report on Wednesday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.97.

Micron Technology Stock Performance

Micron Technology stock opened at $58.93 on Thursday. The stock’s 50 day moving average price is $54.39 and its 200 day moving average price is $59.36. The firm has a market capitalization of $64.07 billion, a PE ratio of 7.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.01 and a current ratio of 2.89. Micron Technology, Inc. has a one year low of $48.45 and a one year high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings results on Thursday, September 29th. The semiconductor manufacturer reported $1.45 EPS for the quarter, topping the consensus estimate of $1.41 by $0.04. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.78 billion. Micron Technology had a return on equity of 18.75% and a net margin of 28.24%. Micron Technology’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post -0.39 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, October 7th. Micron Technology’s payout ratio is 5.95%.

Micron Technology Profile

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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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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