Accel Wealth Management Takes $487,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Accel Wealth Management purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,128 shares of the semiconductor manufacturer’s stock, valued at approximately $487,000.

Other institutional investors also recently bought and sold shares of the company. Tidemark LLC purchased a new stake in Micron Technology in the fourth quarter worth about $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new stake in Micron Technology in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC grew its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares during the period. Finally, Riverview Trust Co purchased a new stake in Micron Technology in the first quarter worth about $39,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 3.2 %

Shares of NASDAQ:MU traded up $4.23 during trading hours on Thursday, hitting $136.82. The company’s stock had a trading volume of 14,507,146 shares, compared to its average volume of 27,836,970. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company has a market capitalization of $151.71 billion, a price-to-earnings ratio of -96.35 and a beta of 1.18. The firm’s fifty day moving average price is $129.42 and its 200 day moving average price is $107.38.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Wolfe Research raised their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Mizuho raised their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Susquehanna increased their price target on shares of Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research report on Monday, June 17th. Finally, KeyCorp increased their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Insiders Place Their Bets

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,730 shares of company stock worth $31,921,649. Company insiders own 0.32% of the company’s stock.

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.