Kingswood Wealth Advisors LLC Lowers Position in Micron Technology, Inc. $MU

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Micron Technology by 61.4%, selling 21,220 shares, leaving them with 13,323 shares valued at $1,642,000.
• Several hedge funds increased their positions in Micron, with Ameliora Wealth Management raising their stake by 279.7%, now holding 7,636 shares worth $941,000.
• Analysts have set a consensus price target for Micron Technology shares at $189.37, with ranging upgrades from multiple firms, indicating a positive outlook for the company.

Kingswood Wealth Advisors LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 61.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,323 shares of the semiconductor manufacturer's stock after selling 21,220 shares during the period. Kingswood Wealth Advisors LLC's holdings in Micron Technology were worth $1,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Slow Capital Inc. raised its position in Micron Technology by 6.2% during the second quarter. Slow Capital Inc. now owns 44,252 shares of the semiconductor manufacturer's stock worth $5,454,000 after acquiring an additional 2,596 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Micron Technology by 6.2% during the second quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer's stock worth $49,683,000 after acquiring an additional 23,600 shares during the last quarter. Ameliora Wealth Management Ltd. raised its position in Micron Technology by 279.7% during the second quarter. Ameliora Wealth Management Ltd. now owns 7,636 shares of the semiconductor manufacturer's stock worth $941,000 after acquiring an additional 5,625 shares during the last quarter. Tcfg Wealth Management LLC acquired a new position in Micron Technology during the second quarter worth about $208,000. Finally, KPP Advisory Services LLC raised its position in shares of Micron Technology by 10.1% in the second quarter. KPP Advisory Services LLC now owns 2,951 shares of the semiconductor manufacturer's stock valued at $364,000 after buying an additional 271 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Micron Technology in a research report on Saturday, September 27th. Wolfe Research boosted their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. TD Cowen boosted their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Barclays upped their price target on shares of Micron Technology from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Finally, UBS Group upped their price target on shares of Micron Technology from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $189.37.

Micron Technology Price Performance

Shares of MU stock opened at $185.69 on Wednesday. The company has a market capitalization of $208.43 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 0.42 and a beta of 1.56. The firm has a fifty day simple moving average of $137.96 and a 200-day simple moving average of $112.01. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $201.00.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology's dividend payout ratio is 6.06%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares of the company's stock, valued at approximately $14,950,106.08. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,956 shares of company stock valued at $22,841,025. 0.30% of the stock is owned by insiders.

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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