Primoris Wealth Advisors LLC Has $1.70 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Primoris Wealth Advisors LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 95.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,400 shares of the semiconductor manufacturer's stock after buying an additional 8,000 shares during the quarter. Micron Technology comprises 1.2% of Primoris Wealth Advisors LLC's holdings, making the stock its 26th biggest position. Primoris Wealth Advisors LLC's holdings in Micron Technology were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MU. Norden Group LLC boosted its stake in Micron Technology by 43.4% during the first quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer's stock valued at $420,000 after buying an additional 1,078 shares in the last quarter. Csenge Advisory Group bought a new stake in shares of Micron Technology in the 1st quarter worth approximately $243,000. Envestnet Portfolio Solutions Inc. lifted its stake in Micron Technology by 4.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,458 shares of the semiconductor manufacturer's stock valued at $7,127,000 after purchasing an additional 2,383 shares during the last quarter. AIA Group Ltd boosted its holdings in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer's stock worth $568,000 after buying an additional 101 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Micron Technology by 1.7% in the first quarter. Empowered Funds LLC now owns 39,598 shares of the semiconductor manufacturer's stock worth $4,668,000 after buying an additional 656 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MU. TD Cowen increased their price target on Micron Technology from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They set a "buy" rating and a $148.00 price target on the stock. Robert W. Baird lowered their price objective on shares of Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, September 27th. Finally, Morgan Stanley increased their target price on Micron Technology from $100.00 to $114.00 and gave the company an "equal weight" rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.04.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $1.51 on Friday, reaching $111.90. The stock had a trading volume of 13,045,721 shares, compared to its average volume of 17,080,670. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The business's 50-day moving average price is $100.16 and its two-hundred day moving average price is $113.12. The stock has a market cap of $124.07 billion, a P/E ratio of 164.56 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm's revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.21) earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio is currently 67.65%.

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.