SVB Wealth LLC Has $1.51 Million Position in Micron Technology, Inc. (NASDAQ:MU)

SVB Wealth LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 9.1% during the 4th quarter, HoldingsChannel reports. The firm owned 17,726 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,473 shares during the quarter. SVB Wealth LLC’s holdings in Micron Technology were worth $1,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MU. Fortis Capital Advisors LLC bought a new position in shares of Micron Technology in the 4th quarter valued at $25,000. OFI Invest Asset Management bought a new stake in Micron Technology during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology during the 3rd quarter worth $28,000. Coppell Advisory Solutions LLC acquired a new position in Micron Technology during the 2nd quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock valued at $33,617,027 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $111.93 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a 50 day moving average price of $102.53 and a two-hundred day moving average price of $86.40. The firm has a market capitalization of $123.95 billion, a P/E ratio of -32.44 and a beta of 1.27. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the company posted ($2.03) EPS. Equities analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend 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%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MU shares. UBS Group lifted their target price on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Evercore ISI lifted their target price on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, December 21st. Citigroup reaffirmed a “buy” rating and set a $150.00 target price on shares of Micron Technology in a report on Thursday, April 4th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Thursday, March 21st. Finally, Morgan Stanley boosted their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four 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 $122.20.

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.