Eagle Wealth Strategies LLC Makes New $205,000 Investment in Micron Technology, Inc. $MU

Key Points

• Eagle Wealth Strategies LLC has made a new investment of approximately $205,000 in Micron Technology, acquiring 1,663 shares during the second quarter.
• Several institutional investors have increased their stakes in Micron Technology, indicating a strong interest in the stock, which is now owned 80.84% by institutional investors.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, scheduled for payment on October 21st, reflecting a growing interest from shareholders.

Eagle Wealth Strategies LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,663 shares of the semiconductor manufacturer's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Micron Technology by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 21,972 shares of the semiconductor manufacturer's stock worth $1,909,000 after acquiring an additional 622 shares during the last quarter. NBC Securities Inc. grew its position in shares of Micron Technology by 122,441.2% during the first quarter. NBC Securities Inc. now owns 20,832 shares of the semiconductor manufacturer's stock worth $1,810,000 after acquiring an additional 20,815 shares during the last quarter. QV Investors Inc. grew its position in shares of Micron Technology by 41.6% during the first quarter. QV Investors Inc. now owns 18,335 shares of the semiconductor manufacturer's stock worth $1,593,000 after acquiring an additional 5,385 shares during the last quarter. Finally, Roxbury Financial LLC grew its position in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Erste Group Bank initiated coverage on shares of Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $185.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Stifel Nicolaus raised their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company raised their target price on shares of Micron Technology from $170.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned 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 $184.77.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 13,798 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the sale, the chief executive officer owned 325,148 shares in the company, valued at approximately $52,739,005.60. The trade was a 4.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the sale, the director owned 96,031 shares of the company's stock, valued at $14,950,106.08. The trade was a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,456 shares of company stock worth $10,524,945 over the last 90 days. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Up 4.2%

MU opened at $163.90 on Tuesday. 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, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45. The stock has a market capitalization of $183.42 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 0.35 and a beta of 1.47. The business has a 50-day moving average of $129.31 and a two-hundred day moving average of $108.64.

Micron Technology Dividend Announcement

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

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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