Cornerstone Wealth Management LLC Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Cornerstone Wealth Management LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,296 shares of the semiconductor manufacturer’s stock after purchasing an additional 413 shares during the period. Cornerstone Wealth Management LLC’s holdings in Micron Technology were worth $446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Atria Investments Inc lifted its holdings in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC lifted its holdings in Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in shares of Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC lifted its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. TD Cowen raised their price target on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Citigroup decreased their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Wolfe Research raised their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Trading Down 0.8 %

Shares of MU stock opened at $111.15 on Friday. 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 stock has a market capitalization of $123.25 billion, a P/E ratio of -78.27 and a beta of 1.18. The company has a 50 day moving average price of $98.64 and a 200 day moving average price of $114.54. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.21) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

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.