RWA Wealth Partners LLC Buys 60,906 Shares of Micron Technology, Inc. (NASDAQ:MU)

RWA Wealth Partners LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,188.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 66,030 shares of the semiconductor manufacturer's stock after acquiring an additional 60,906 shares during the period. RWA Wealth Partners LLC's holdings in Micron Technology were worth $5,557,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. True Wealth Design LLC lifted its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after buying an additional 296 shares during the period. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC bought a new position in shares of Micron Technology in the fourth quarter valued at about $34,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU stock traded up $1.82 during trading hours on Tuesday, reaching $88.71. 15,302,155 shares of the company traded hands, compared to its average volume of 22,836,275. The firm has a 50-day moving average price of $95.62 and a 200 day moving average price of $98.51. 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 company has a market cap of $99.14 billion, a P/E ratio of 25.56 and a beta of 1.23. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54.

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Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue was up 38.2% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MU. Barclays boosted their price target on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. UBS Group increased their target price on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Robert W. Baird increased their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.76.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by 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.