Angeles Wealth Management LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Angeles Wealth Management LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,525 shares of the semiconductor manufacturer’s stock after acquiring an additional 770 shares during the quarter. Angeles Wealth Management LLC’s holdings in Micron Technology were worth $381,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its holdings in shares of Micron Technology by 2.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 9,589 shares of the semiconductor manufacturer’s stock valued at $994,000 after purchasing an additional 272 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Micron Technology by 219.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,290 shares of the semiconductor manufacturer’s stock worth $549,000 after buying an additional 3,635 shares during the last quarter. Webster Bank N. A. increased its position in Micron Technology by 679.2% during the 3rd quarter. Webster Bank N. A. now owns 826 shares of the semiconductor manufacturer’s stock valued at $86,000 after buying an additional 720 shares in the last quarter. Compagnie Lombard Odier SCmA raised its stake in Micron Technology by 140.9% in the third quarter. Compagnie Lombard Odier SCmA now owns 11,436 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after buying an additional 6,688 shares during the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in Micron Technology by 6.4% in the third quarter. Oliver Luxxe Assets LLC now owns 59,584 shares of the semiconductor manufacturer’s stock worth $6,179,000 after acquiring an additional 3,610 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MU shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Mizuho dropped their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Piper Sandler lowered their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Up 3.9 %

Micron Technology stock opened at $95.93 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market capitalization of $106.88 billion, a PE ratio of 27.65 and a beta of 1.18. The business has a 50 day simple moving average of $96.63 and a 200-day simple moving average of $98.96. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by company 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.