TriaGen Wealth Management LLC Invests $871,000 in Micron Technology, Inc. $MU

TriaGen Wealth Management LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,053 shares of the semiconductor manufacturer’s stock, valued at approximately $871,000.

Several other institutional investors have also recently added to or reduced their stakes in MU. REAP Financial Group LLC acquired a new position in Micron Technology during the 3rd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at about $27,000. Elevation Wealth Partners LLC raised its stake in shares of Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Micron Technology by 4,800.0% during the fourth 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. Finally, GHP Investment Advisors Inc. lifted its position in shares of Micron Technology by 91.2% during the fourth 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. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Micron Technology news, EVP Sumit Sadana sold 25,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $429.89, for a total value of $10,747,250.00. Following the sale, the executive vice president directly owned 248,021 shares of the company’s stock, valued at $106,621,747.69. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Manish H. Bhatia sold 26,623 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $391.04, for a total transaction of $10,410,657.92. Following the transaction, the executive vice president directly owned 323,486 shares of the company’s stock, valued at approximately $126,495,965.44. This trade represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,623 shares of company stock worth $45,165,908 in the last three months. 0.24% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $455.07 on Monday. The company has a market cap of $513.20 billion, a P/E ratio of 21.49 and a beta of 1.60. The business has a 50 day moving average of $406.41 and a two-hundred day moving average of $319.30. Micron Technology, Inc. has a 52 week low of $65.64 and a 52 week high of $471.34. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is presently 2.83%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HSBC boosted their price objective on Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Wells Fargo & Company increased their target price on Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a research report on Monday, March 16th. Cantor Fitzgerald boosted their price target on Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Finally, Royal Bank Of Canada upped their price target on Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a research report on Monday, March 16th. Five analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Buy” and an average target price of $464.61.

Micron Technology Company Profile

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.