Primoris Wealth Advisors LLC Acquires 8,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Primoris Wealth Advisors LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 95.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,000 shares during the quarter. Micron Technology accounts for 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 SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $30,000. Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC boosted its holdings in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.3 %

Shares of Micron Technology stock traded down $1.51 on Friday, hitting $111.90. 13,045,721 shares of the company’s stock traded hands, compared to its average volume of 21,755,240. The company has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18. The company has a fifty day moving average of $100.16 and a two-hundred day moving average of $113.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm posted ($1.21) EPS. The company’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 8.31 earnings per share 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 issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio is currently 67.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MU shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. UBS Group lowered their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Raymond James raised 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.