Simplicity Wealth LLC Has $6.27 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Simplicity Wealth LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,642 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,123 shares during the period. Simplicity Wealth LLC’s holdings in Micron Technology were worth $6,266,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors increased its stake in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Sanders Capital LLC increased its stake in Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares in the last quarter. Capital International Investors increased its stake in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 12,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $123.01, for a total transaction of $1,476,120.00. Following the sale, the executive vice president now directly owns 218,048 shares in the company, valued at $26,822,084.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Sumit Sadana sold 12,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the transaction, the executive vice president now directly owns 218,048 shares of the company’s stock, valued at $26,822,084.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,174 shares of company stock worth $13,716,343. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $5.27 during mid-day trading on Thursday, reaching $92.07. The company had a trading volume of 24,011,821 shares, compared to its average volume of 21,415,113. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a one year low of $61.75 and a one year high of $157.54. The firm has a market cap of $102.09 billion, a price-to-earnings ratio of -63.94 and a beta of 1.18. The business’s 50-day simple moving average is $125.98 and its 200 day simple moving average is $112.81.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the business posted ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, research analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MU. Stifel Nicolaus raised their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Bank of America raised their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Wells Fargo & Company raised their price target on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Raymond James raised their price target on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, TD Cowen raised their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.92.

About Micron Technology

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.