Mach 1 Financial Group LLC Invests $1.28 Million in Micron Technology, Inc. $MU

Mach 1 Financial Group LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,479 shares of the semiconductor manufacturer’s stock, valued at approximately $1,278,000.

A number of other large investors have also modified their holdings of MU. REAP Financial Group LLC purchased a new position in Micron Technology in the third quarter valued at $25,000. High Note Wealth LLC increased its holdings in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $731.99 on Thursday. Micron Technology, Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $818.67. The company has a market capitalization of $825.49 billion, a price-to-earnings ratio of 34.56 and a beta of 1.91. The firm has a 50-day simple moving average of $498.20 and a 200-day simple moving average of $381.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Micron Technology Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. KeyCorp raised their price objective on Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Wedbush raised their price objective on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. UBS Group raised their price objective on Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Finally, Susquehanna raised their price objective on Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Buy” and a consensus target price of $518.47.

View Our Latest Stock Analysis on MU

Insider Buying and Selling at Micron Technology

In other news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction 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 approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 106,000 shares of company stock worth $47,032,460 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Micron Technology

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

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

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

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