Phoenix Financial Ltd. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 14.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,485 shares of the semiconductor manufacturer’s stock after selling 9,010 shares during the period. Phoenix Financial Ltd.’s holdings in Micron Technology were worth $6,592,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AllSquare Wealth Management LLC grew its holdings in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology in the first quarter valued at approximately $36,000. Hilltop National Bank bought a new stake in shares of Micron Technology in the second quarter valued at approximately $37,000. Saudi Central Bank bought a new stake in shares of Micron Technology in the first quarter valued at approximately $38,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Micron Technology by 91.0% in the first quarter. Pinnacle Bancorp Inc. now owns 512 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.
Micron Technology Stock Up 2.2%
Shares of MU stock opened at $206.77 on Tuesday. The stock has a market cap of $232.09 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.56. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $214.75. The stock has a fifty day moving average price of $152.86 and a 200 day moving average price of $119.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.
Micron Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is 6.06%.
Insider Buying and Selling
In other Micron Technology news, CEO Sanjay Mehrotra sold 21,563 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the completion of the transaction, the chief executive officer directly owned 272,648 shares in the company, valued at $51,385,968.56. This represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,956 shares of company stock valued at $19,124,145 over the last ninety days. 0.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
MU has been the subject of several research reports. Piper Sandler increased their price objective on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Wolfe Research increased their price objective on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Erste Group Bank initiated coverage on Micron Technology in a research report on Thursday, August 14th. They issued a “buy” rating for the company. Finally, Summit Insights raised Micron Technology to a “strong-buy” rating in a research report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $200.64.
Get Our Latest Research Report on Micron Technology
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.
Recommended Stories
- Five stocks we like better than Micron Technology
- Where Do I Find 52-Week Highs and Lows?
- Louis Vuitton Earnings Show Luxury Bull Market Isn’t Done Yet
- Business Services Stocks Investing
- 3 High-Yield Banks for Investors to Buy on the Dip
- Most active stocks: Dollar volume vs share volume
- 5 Surprising Stocks Set to Benefit From a Future Robotics Boom
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.