AE Wealth Management LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,080 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,410 shares during the period. AE Wealth Management LLC’s holdings in Micron Technology were worth $4,770,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC boosted its holdings in Micron Technology by 24.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,803 shares of the semiconductor manufacturer’s stock worth $512,000 after acquiring an additional 1,157 shares in the last quarter. British Airways Pensions Investment Management Ltd boosted its stake in Micron Technology by 6.0% in the 1st quarter. British Airways Pensions Investment Management Ltd now owns 173,774 shares of the semiconductor manufacturer’s stock worth $15,329,000 after purchasing an additional 9,887 shares in the last quarter. Wedbush Securities Inc. grew its position in Micron Technology by 6.7% during the 1st quarter. Wedbush Securities Inc. now owns 15,450 shares of the semiconductor manufacturer’s stock worth $1,363,000 after purchasing an additional 971 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Micron Technology by 16.1% during the 1st quarter. Arkadios Wealth Advisors now owns 6,420 shares of the semiconductor manufacturer’s stock valued at $566,000 after purchasing an additional 889 shares in the last quarter. Finally, Bank of Stockton grew its holdings in shares of Micron Technology by 28.0% during the first quarter. Bank of Stockton now owns 19,939 shares of the semiconductor manufacturer’s stock valued at $1,758,000 after buying an additional 4,357 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on MU shares. Wells Fargo & Company raised their target price on Micron Technology from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, March 3rd. Wedbush upped their price objective on shares of Micron Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Thursday, April 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Micron Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 5th. BMO Capital Markets boosted their price target on Micron Technology from $80.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday, March 29th. Finally, KeyCorp increased their price target on shares of Micron Technology from $121.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $107.74.
Shares of MU stock opened at $85.02 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $96.96. The stock has a market cap of $95.34 billion, a P/E ratio of 32.08, a P/E/G ratio of 1.73 and a beta of 1.37. The company has a quick ratio of 1.94, a current ratio of 2.91 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $89.67 and a 200-day simple moving average of $76.99.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.03. Micron Technology had a net margin of 13.59% and a return on equity of 8.46%. During the same period in the previous year, the firm earned $0.45 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 3.64 earnings per share for the current year.
Micron Technology Company Profile
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.
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