Axxcess Wealth Management LLC Purchases New Shares in Micron Technology, Inc. (NASDAQ:MU)

Axxcess Wealth Management LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,596 shares of the semiconductor manufacturer’s stock, valued at approximately $307,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after buying an additional 305,860 shares during the period. FMR LLC lifted its position in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Wellington Management Group LLP boosted its holdings in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley increased its position in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. UBS Group increased their price objective on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Stifel Nicolaus reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Robert W. Baird upgraded Micron Technology from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $150.00 in a research report on Monday. Finally, Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $63,431,525.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. Insiders sold a total of 370,207 shares of company stock valued at $41,839,707 over the last ninety days. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $119.32 on Thursday. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The firm has a market capitalization of $131.73 billion, a PE ratio of -34.59 and a beta of 1.27. The company’s 50 day simple moving average is $110.11 and its 200 day simple moving average is $90.70. 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 (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the business posted ($2.03) earnings per share. The company’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.24 EPS 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology’s payout ratio is currently -13.33%.

Micron Technology Company 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.