Jessup Wealth Management Inc Has $6.32 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Jessup Wealth Management Inc increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,895 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,586 shares during the period. Micron Technology comprises about 2.9% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 13th biggest position. Jessup Wealth Management Inc’s holdings in Micron Technology were worth $6,315,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MU. Atria Investments Inc grew its holdings in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after purchasing an additional 93 shares during the last quarter. Aspect Partners LLC raised its position in Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Bank of America lifted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen upped their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Robert W. Baird decreased their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.85.

Micron Technology Stock Performance

MU traded up $1.56 during trading hours on Friday, reaching $107.25. The company’s stock had a trading volume of 6,872,199 shares, compared to its average volume of 22,270,076. The company’s 50-day moving average is $96.48 and its 200-day moving average is $114.97. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54. The firm has a market cap of $118.91 billion, a PE ratio of 157.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company 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 business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s payout ratio is 67.65%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate 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.