Icon Wealth Advisors LLC Makes New $18.04 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

Icon Wealth Advisors LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 173,904 shares of the semiconductor manufacturer’s stock, valued at approximately $18,036,000. Micron Technology comprises approximately 0.7% of Icon Wealth Advisors LLC’s portfolio, making the stock its 18th biggest position.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in Micron Technology by 2.8% during the first quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer’s stock worth $1,489,000 after buying an additional 340 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Micron Technology in the first quarter valued at $41,000. CreativeOne Wealth LLC lifted its position in shares of Micron Technology by 22.3% during the 1st quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer’s stock valued at $573,000 after acquiring an additional 886 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Micron Technology by 16.5% during the 1st quarter. EP Wealth Advisors LLC now owns 11,662 shares of the semiconductor manufacturer’s stock worth $1,375,000 after acquiring an additional 1,648 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Micron Technology by 255.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,767 shares of the semiconductor manufacturer’s stock worth $1,505,000 after acquiring an additional 9,171 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, China Renaissance began coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $143.04.

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 3.47 % 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. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 4.1 %

Shares of Micron Technology stock opened at $102.43 on Friday. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $102.23 and a two-hundred day moving average price of $112.35. The stock has a market capitalization of $113.57 billion, a P/E ratio of 150.63 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations 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 was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.21) EPS. Equities 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 announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors 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 yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

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.