Xcel Wealth Management LLC Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Xcel Wealth Management LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 152.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,049 shares of the semiconductor manufacturer’s stock after buying an additional 3,654 shares during the quarter. Xcel Wealth Management LLC’s holdings in Micron Technology were worth $627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annex Advisory Services LLC increased its stake in Micron Technology by 4.7% during the 1st quarter. Annex Advisory Services LLC now owns 12,411 shares of the semiconductor manufacturer’s stock valued at $1,463,000 after buying an additional 558 shares during the period. Riverview Trust Co purchased a new stake in shares of Micron Technology in the first quarter worth approximately $39,000. Prentice Wealth Management LLC bought a new position in Micron Technology during the first quarter valued at approximately $334,000. Sound Income Strategies LLC raised its position in Micron Technology by 40.3% during the first quarter. Sound Income Strategies LLC now owns 1,358 shares of the semiconductor manufacturer’s stock valued at $160,000 after acquiring an additional 390 shares in the last quarter. Finally, CIC Wealth LLC raised its position in Micron Technology by 5.3% during the first quarter. CIC Wealth LLC now owns 3,215 shares of the semiconductor manufacturer’s stock valued at $379,000 after acquiring an additional 161 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Down 1.3 %

Shares of MU stock traded down $1.44 during trading on Tuesday, hitting $107.64. 7,170,236 shares of the stock traded hands, compared to its average volume of 22,174,643. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm’s fifty day moving average price is $98.93 and its 200-day moving average price is $114.28. The firm has a market capitalization of $119.36 billion, a P/E ratio of -75.20 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. The company’s revenue was up 93.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Raymond James boosted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird cut their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, KeyCorp decreased their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $142.85.

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.