Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 32.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,950 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,200 shares during the period. Jupiter Wealth Management LLC’s holdings in Micron Technology were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ritholtz Wealth Management grew its position in shares of Micron Technology by 3.0% during the first quarter. Ritholtz Wealth Management now owns 6,520 shares of the semiconductor manufacturer’s stock worth $508,000 after acquiring an additional 187 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Micron Technology by 6.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,583 shares of the semiconductor manufacturer’s stock worth $243,000 after acquiring an additional 162 shares during the last quarter. Cooper Financial Group grew its position in shares of Micron Technology by 18.4% during the first quarter. Cooper Financial Group now owns 2,922 shares of the semiconductor manufacturer’s stock worth $228,000 after acquiring an additional 454 shares during the last quarter. Mather Group LLC. grew its position in Micron Technology by 6.5% in the 4th quarter. Mather Group LLC. now owns 3,728 shares of the semiconductor manufacturer’s stock valued at $347,000 after buying an additional 226 shares in the last quarter. Finally, Wedbush Securities Inc. grew its position in Micron Technology by 15.5% in the 1st quarter. Wedbush Securities Inc. now owns 19,404 shares of the semiconductor manufacturer’s stock valued at $1,511,000 after buying an additional 2,606 shares in the last quarter. 80.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MU shares. Barclays decreased their target price on shares of Micron Technology from $105.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. BMO Capital Markets cut their price target on shares of Micron Technology from $115.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, June 27th. Piper Sandler cut their price target on shares of Micron Technology from $70.00 to $50.00 and set an “underweight” rating for the company in a report on Thursday, June 30th. Needham & Company LLC cut their price target on shares of Micron Technology from $80.00 to $64.00 and set a “buy” rating for the company in a report on Friday, July 1st. Finally, Rosenblatt Securities cut their price target on shares of Micron Technology from $165.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.54.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $2.53 during midday trading on Wednesday, reaching $61.33. The company’s stock had a trading volume of 306,765 shares, compared to its average volume of 15,178,550. Micron Technology, Inc. has a fifty-two week low of $51.40 and a fifty-two week high of $98.45. The company has a market capitalization of $67.66 billion, a P/E ratio of 7.28, a P/E/G ratio of 0.60 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 2.44. The business’s fifty day simple moving average is $60.07 and its 200-day simple moving average is $71.10.

Micron Technology (NASDAQ:MUGet Rating) last announced its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.17. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The company had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.66 billion. During the same period last year, the company posted $1.81 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts expect that Micron Technology, Inc. will post 8 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently 5.25%.

Micron Technology Company Profile

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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.

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

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