Wealth Alliance Purchases 179 Shares of Micron Technology, Inc. (NASDAQ:MU)

Wealth Alliance grew its position in Micron Technology, Inc. (NASDAQ:MU) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,908 shares of the semiconductor manufacturer’s stock after acquiring an additional 179 shares during the period. Wealth Alliance’s holdings in Micron Technology were worth $334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the third quarter worth about $28,000. OFI Invest Asset Management acquired a new position in Micron Technology during the 3rd quarter worth $27,000. VisionPoint Advisory Group LLC increased its stake in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the period. Coppell Advisory Solutions LLC bought a new stake in shares of Micron Technology during the second quarter worth $32,000. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $25,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James boosted their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Evercore ISI raised their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, TD Cowen increased their price target on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Price Performance

MU stock opened at $111.93 on Friday. The stock has a 50-day moving average price of $102.53 and a two-hundred day moving average price of $86.40. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The stock has a market cap of $123.95 billion, a PE ratio of -32.44 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.35 billion. During the same period last year, the company earned ($2.03) earnings per share. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’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 $63,431,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,890 shares of company stock worth $33,617,027. 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.