755 Shares in Micron Technology, Inc. $MU Purchased by Maxele Advisors LLC

Maxele Advisors LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 755 shares of the semiconductor manufacturer’s stock, valued at approximately $215,000.

Several other hedge funds have also recently modified their holdings of MU. REAP Financial Group LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth about $25,000. Elevation Wealth Partners LLC raised its position in shares of Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its position in shares of Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Micron Technology by 91.2% during the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Finally, Joseph Group Capital Management acquired a new position in shares of Micron Technology during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Key Headlines Impacting Micron Technology

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

Insider Activity

In other news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 106,000 shares of company stock worth $47,032,460. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Stock Down 3.4%

MU stock opened at $776.01 on Friday. The company has a market cap of $875.13 billion, a price-to-earnings ratio of 36.64 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67. The firm has a 50-day moving average of $472.61 and a two-hundred day moving average of $368.17.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders 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 of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio is currently 2.83%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MU. Mizuho increased their price objective on shares of Micron Technology from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. TD Cowen increased their price objective on shares of Micron Technology from $550.00 to $660.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wedbush increased their price objective on shares of Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Citigroup cut their price objective on shares of Micron Technology from $510.00 to $425.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Micron Technology in a report on Tuesday. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $495.63.

Read Our Latest Stock Analysis on Micron Technology

About Micron Technology

(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

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

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