Abundance Wealth Counselors Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Abundance Wealth Counselors acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the first quarter, HoldingsChannel reports. The fund acquired 2,000 shares of the semiconductor manufacturer’s stock, valued at approximately $236,000.

A number of other large investors have also recently made changes to their positions in MU. Gotham Asset Management LLC lifted its position in shares of Micron Technology by 1.1% during the 3rd quarter. Gotham Asset Management LLC now owns 26,873 shares of the semiconductor manufacturer’s stock valued at $1,828,000 after buying an additional 281 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Micron Technology by 6.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,543,914 shares of the semiconductor manufacturer’s stock worth $173,067,000 after purchasing an additional 156,118 shares in the last quarter. Legacy Advisors LLC lifted its holdings in Micron Technology by 17.6% in the 3rd quarter. Legacy Advisors LLC now owns 3,928 shares of the semiconductor manufacturer’s stock worth $267,000 after purchasing an additional 589 shares in the last quarter. Rokos Capital Management LLP lifted its holdings in Micron Technology by 25.2% in the 3rd quarter. Rokos Capital Management LLP now owns 1,339,083 shares of the semiconductor manufacturer’s stock worth $91,419,000 after purchasing an additional 269,630 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in Micron Technology by 4.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 805,360 shares of the semiconductor manufacturer’s stock worth $54,793,000 after purchasing an additional 31,813 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $136.82 on Thursday. The stock’s fifty day moving average is $128.92 and its two-hundred day moving average is $107.17. The company has a market capitalization of $151.71 billion, a PE ratio of -96.35 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.57) EPS. As a group, analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MU shares. Cantor Fitzgerald boosted their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Citigroup boosted their price target on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, March 21st. Needham & Company LLC upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, TD Cowen upped their price objective on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold 257,730 shares of company stock valued at $31,921,649 in the last quarter. 0.32% of the stock is owned by insiders.

Micron Technology Profile

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.