Primoris Wealth Advisors LLC Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Primoris Wealth Advisors LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MUGet Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,250 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

Other hedge funds also recently made changes to their positions in the company. Selective Wealth Management Inc. acquired a new position in Micron Technology in the fourth quarter valued at approximately $28,000. Sterling Investment Advisors Ltd. lifted its stake in Micron Technology by 600.0% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 300 shares during the period. Activest Wealth Management lifted its stake in Micron Technology by 237.3% in the fourth quarter. Activest Wealth Management now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 280 shares during the period. Pacifica Partners Inc. lifted its stake in Micron Technology by 93.0% in the fourth quarter. Pacifica Partners Inc. now owns 415 shares of the semiconductor manufacturer’s stock valued at $39,000 after buying an additional 200 shares during the period. Finally, Capital Analysts LLC lifted its stake in Micron Technology by 38.6% in the third quarter. Capital Analysts LLC now owns 575 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 76.07% of the company’s stock.

NASDAQ MU traded down $1.99 during trading hours on Friday, hitting $68.19. The company had a trading volume of 16,843,482 shares, compared to its average volume of 20,297,514. Micron Technology, Inc. has a 52 week low of $65.67 and a 52 week high of $98.45. The firm has a 50 day simple moving average of $77.02 and a 200 day simple moving average of $81.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The firm has a market capitalization of $76.15 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 0.23 and a beta of 1.16.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.17. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The firm had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the firm posted $0.90 EPS. The company’s revenue was up 25.6% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 9.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th were issued a $0.10 dividend. The ex-dividend date was Friday, April 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. Micron Technology’s payout ratio is currently 5.03%.

In related news, SVP April S. Arnzen sold 5,600 shares of the firm’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $76.00, for a total transaction of $425,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert P. Beard sold 266 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $96.17, for a total value of $25,581.22. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Several brokerages have issued reports on MU. Sanford C. Bernstein raised Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price target on the stock in a research note on Wednesday, March 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 target price on shares of Micron Technology in a research report on Wednesday, March 30th. Bank of America upped their target price on Micron Technology from $100.00 to $118.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. New Street Research began coverage on Micron Technology in a research report on Monday, January 10th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Susquehanna began coverage on Micron Technology in a research report on Wednesday, March 30th. They set a “buy” rating and a $125.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $113.32.

Micron Technology Profile (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded 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.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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