Legacy Capital Wealth Partners LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Legacy Capital Wealth Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,361 shares of the semiconductor manufacturer's stock, valued at approximately $205,000.

A number of other hedge funds have also modified their holdings of the business. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the first quarter worth about $33,000. Hurley Capital LLC acquired a new stake in Micron Technology during the fourth quarter worth about $37,000. Roxbury Financial LLC increased its position in 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 purchasing an additional 300 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total value of $291,557.12. Following the transaction, the director owned 22,550 shares of the company's stock, valued at approximately $2,734,864. This trade represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 over the last three months. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MU shares. Robert W. Baird raised their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Cantor Fitzgerald increased their target price on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Needham & Company LLC increased their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Piper Sandler increased their target price on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Barclays increased their target price on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $146.44.

Micron Technology Trading Up 1.0%

NASDAQ:MU traded up $1.13 on Friday, reaching $114.39. The stock had a trading volume of 19,315,466 shares, compared to its average volume of 23,315,727. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The firm's fifty day moving average is $111.39 and its two-hundred day moving average is $96.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market cap of $128.02 billion, a price-to-earnings ratio of 20.61 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the company posted $0.62 EPS. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Micron Technology 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.