EverSource Wealth Advisors LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

EverSource Wealth Advisors LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,485 shares of the semiconductor manufacturer’s stock after buying an additional 596 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Micron Technology were worth $507,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Westwood Holdings Group Inc. purchased a new position in Micron Technology during the first quarter worth approximately $8,558,000. EULAV Asset Management boosted its position in Micron Technology by 12.1% during the first quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock worth $4,362,000 after purchasing an additional 4,000 shares in the last quarter. Soltis Investment Advisors LLC purchased a new position in Micron Technology during the first quarter worth approximately $245,000. Boston Partners boosted its position in Micron Technology by 1.4% during the first quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after purchasing an additional 61,127 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in Micron Technology by 81.5% during the first quarter. Cetera Advisors LLC now owns 66,698 shares of the semiconductor manufacturer’s stock worth $7,863,000 after purchasing an additional 29,953 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays increased their target price on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Mizuho increased their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. Stifel Nicolaus increased their target price on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Wells Fargo & Company increased their price target on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $158.72.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $8.81 on Friday, hitting $92.70. The stock had a trading volume of 36,039,440 shares, compared to its average volume of 23,484,150. Micron Technology, Inc. has a 52-week low of $61.75 and a 52-week high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock has a market cap of $102.79 billion, a price-to-earnings ratio of -65.28 and a beta of 1.18. The company’s 50 day moving average price is $128.53 and its 200 day moving average price is $112.54.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,730 shares of company stock worth $22,485,299. Company insiders own 0.32% of the company’s stock.

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.