Kingswood Wealth Advisors LLC Has $3.05 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Kingswood Wealth Advisors LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 213.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 34,543 shares of the semiconductor manufacturer’s stock after buying an additional 23,530 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Micron Technology were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Xcel Wealth Management LLC lifted its position in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its stake in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. increased its stake in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock valued at $1,941,000 after buying an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Micron Technology by 1.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after buying an additional 119 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MU shares. UBS Group increased their target price on shares of Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Robert W. Baird raised their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Citigroup increased their target price on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Morgan Stanley cut their target price on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Micron Technology Trading Up 1.2%

Shares of Micron Technology stock opened at $121.82 on Thursday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.41. The stock’s 50-day simple moving average is $91.01 and its 200 day simple moving average is $93.07. The stock has a market capitalization of $136.14 billion, a P/E ratio of 29.21 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 5,210 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the completion of the sale, the chief executive officer now directly owns 379,675 shares of the company’s stock, valued at approximately $46,073,561.25. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,404 shares of company stock valued at $5,572,867 in the last quarter. 0.30% 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.