Benjamin Edwards Inc. Sells 2,322 Shares of Micron Technology, Inc. $MU

Benjamin Edwards Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 21.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,367 shares of the semiconductor manufacturer’s stock after selling 2,322 shares during the period. Benjamin Edwards Inc.’s holdings in Micron Technology were worth $2,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. AQR Capital Management LLC boosted its position in shares of Micron Technology by 411.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after purchasing an additional 2,918,535 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. California Public Employees Retirement System lifted its position in Micron Technology by 70.2% in the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after acquiring an additional 1,246,773 shares in the last quarter. Voloridge Investment Management LLC lifted its position in Micron Technology by 1,064.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after acquiring an additional 1,192,433 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after acquiring an additional 1,188,296 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 11.0%

NASDAQ:MU opened at $640.10 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market cap of $721.86 billion, a price-to-earnings ratio of 30.22 and a beta of 1.91. Micron Technology, Inc. has a 52 week low of $78.54 and a 52 week high of $651.74. The firm has a 50-day moving average price of $426.37 and a two-hundred day moving average price of $341.68.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is 2.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on MU shares. Erste Group Bank cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Piper Sandler raised their price target on shares of Micron Technology from $275.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Summit Insights cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Melius Research started coverage on shares of Micron Technology in a research report on Monday, April 27th. They issued a “buy” rating and a $700.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $478.24.

View Our Latest Report on Micron Technology

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the sale, the chief executive officer owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 104,000 shares of company stock worth $45,458,400. Insiders own 0.24% of the company’s stock.

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

Micron Technology Profile

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

Further Reading

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

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