Sagespring Wealth Partners LLC Takes $479,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Sagespring Wealth Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,691 shares of the semiconductor manufacturer's stock, valued at approximately $479,000.

A number of other large investors have also made changes to their positions in the business. SOA Wealth Advisors LLC. raised its holdings in shares of Micron Technology by 37.6% in the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock worth $123,000 after buying an additional 325 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in Micron Technology by 3.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock worth $694,000 after acquiring an additional 241 shares during the period. Pine Valley Investments Ltd Liability Co lifted its position in Micron Technology by 524.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock worth $1,541,000 after acquiring an additional 12,482 shares during the period. World Investment Advisors LLC grew its stake in Micron Technology by 103.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock valued at $344,000 after purchasing an additional 1,688 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of Micron Technology in the third quarter valued at about $21,406,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 0.8 %

NASDAQ MU traded down $0.53 on Friday, reaching $68.80. The stock had a trading volume of 20,670,930 shares, compared to its average volume of 23,307,121. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a fifty day moving average price of $88.74 and a two-hundred day moving average price of $96.14. The firm has a market capitalization of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. Micron Technology's payout ratio is 11.03%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction 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 directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on MU shares. Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Rosenblatt Securities decreased their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. UBS Group upped their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, March 17th. 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $129.36.

Micron Technology Company 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.