Apollon Wealth Management LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Apollon Wealth Management LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,445 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,978 shares during the period. Apollon Wealth Management LLC’s holdings in Micron Technology were worth $2,535,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TBH Global Asset Management LLC acquired a new stake in shares of Micron Technology in the 1st quarter worth $296,000. Beacon Investment Advisory Services Inc. boosted its holdings in Micron Technology by 2.6% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 5,081 shares of the semiconductor manufacturer’s stock valued at $599,000 after purchasing an additional 130 shares in the last quarter. Nwam LLC increased its position in Micron Technology by 50.0% during the 1st quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock worth $1,144,000 after purchasing an additional 3,202 shares during the period. Banco Santander S.A. raised its stake in shares of Micron Technology by 96.2% during the 1st quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock worth $11,176,000 after buying an additional 46,488 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Micron Technology in the 1st quarter valued at approximately $15,172,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MU shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. UBS Group lowered their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Finally, Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on 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 directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 4.0 %

MU stock opened at $99.92 on Thursday. The company has a 50 day moving average price of $100.72 and a two-hundred day moving average price of $113.03. 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 $110.79 billion, a P/E ratio of 146.94 and a beta of 1.18. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. Micron Technology’s payout ratio is currently 67.65%.

About Micron Technology

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.