1900 Wealth Management LLC Buys New Position in Micron Technology, Inc. $MU

Key Points

• 1900 Wealth Management LLC has acquired a new position in Micron Technology, purchasing 1,661 shares valued at approximately $205,000 during the second quarter.
• Micron Technology announced a quarterly dividend of $0.115 per share, scheduled to be paid on October 21st, which represents an annualized yield of 0.3%.
• Wells Fargo & Company raised its target price for Micron Technology from $170.00 to $220.00 and rated the stock as "overweight," reflecting positive analyst sentiment around the company.

1900 Wealth Management LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,661 shares of the semiconductor manufacturer's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Micron Technology during the first quarter valued at approximately $36,000. Harbor Investment Advisory LLC raised its holdings in shares of Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Finally, Hilltop National Bank bought a new position in shares of Micron Technology during the second quarter valued at approximately $37,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 0.9%

NASDAQ MU opened at $183.75 on Friday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $186.18. The stock has a market cap of $205.64 billion, a P/E ratio of 24.21, a P/E/G ratio of 0.40 and a beta of 1.56. The stock's fifty day moving average price is $133.36 and its 200-day moving average price is $110.11. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's dividend payout ratio is currently 6.06%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares of the company's stock, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total value of $278,070.68. Following the sale, the director directly owned 20,146 shares in the company, valued at $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,456 shares of company stock valued at $12,985,545. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MU shares. Wells Fargo & Company upped their target price on Micron Technology from $170.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Wall Street Zen raised Micron Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. Summit Insights raised Micron Technology to a "strong-buy" rating in a research note on Tuesday, September 23rd. UBS Group upped their price target on Micron Technology from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Finally, CLSA began coverage on Micron Technology in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology currently has an average rating of "Buy" and an average price target of $184.77.

Micron Technology Company Profile

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.

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