Axxcess Wealth Management LLC Sells 463 Shares of Micron Technology, Inc. (NASDAQ:MU)

Axxcess Wealth Management LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,977 shares of the semiconductor manufacturer’s stock after selling 463 shares during the period. Axxcess Wealth Management LLC’s holdings in Micron Technology were worth $496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Neuberger Berman Group LLC increased its position in shares of Micron Technology by 293.5% during the first quarter. Neuberger Berman Group LLC now owns 1,854,494 shares of the semiconductor manufacturer’s stock valued at $144,464,000 after buying an additional 1,383,268 shares during the period. Dupont Capital Management Corp increased its position in shares of Micron Technology by 118.1% during the second quarter. Dupont Capital Management Corp now owns 21,775 shares of the semiconductor manufacturer’s stock valued at $1,204,000 after buying an additional 11,789 shares during the period. Cetera Advisors LLC increased its position in shares of Micron Technology by 9.3% during the first quarter. Cetera Advisors LLC now owns 40,237 shares of the semiconductor manufacturer’s stock valued at $3,134,000 after buying an additional 3,433 shares during the period. First Hawaiian Bank increased its position in shares of Micron Technology by 26.7% during the second quarter. First Hawaiian Bank now owns 7,517 shares of the semiconductor manufacturer’s stock valued at $416,000 after buying an additional 1,584 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Micron Technology by 9.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 26,879 shares of the semiconductor manufacturer’s stock worth $1,486,000 after purchasing an additional 2,323 shares during the period. 79.66% of the stock is owned by institutional investors.

Micron Technology Stock Up 0.5 %

MU opened at $58.93 on Thursday. The company has a current ratio of 2.89, a quick ratio of 2.01 and a debt-to-equity ratio of 0.14. Micron Technology, Inc. has a 1-year low of $48.45 and a 1-year high of $98.45. The company has a market capitalization of $64.07 billion, a PE ratio of 7.62 and a beta of 1.27. The firm’s 50 day simple moving average is $54.39 and its two-hundred day simple moving average is $59.36.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings results on Thursday, September 29th. The semiconductor manufacturer reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.04. Micron Technology had a net margin of 28.24% and a return on equity of 18.75%. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.78 billion. During the same period last year, the firm earned $2.37 earnings per share. The company’s quarterly revenue was down 19.7% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post -0.39 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were given a $0.115 dividend. The ex-dividend date was Friday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.78%. Micron Technology’s payout ratio is presently 5.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MU. Raymond James cut shares of Micron Technology from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $72.00 to $65.00 in a report on Tuesday, August 9th. Susquehanna cut their price objective on shares of Micron Technology from $68.00 to $60.00 and set a “positive” rating on the stock in a report on Monday, September 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Micron Technology from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, September 27th. Finally, Susquehanna Bancshares dropped their target price on shares of Micron Technology from $68.00 to $60.00 and set a “positive” rating on the stock in a research note on Monday, September 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $69.97.

Micron Technology Company Profile

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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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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