Micron Technology, Inc. $MU Stake Cut by Trivium Point Advisory LLC

Key Points

• Trivium Point Advisory LLC reduced its stake in Micron Technology, Inc. by 25.5%, selling 7,125 shares to own a total of 20,824 shares worth approximately $2.57 million.
• Several hedge funds, including Harbor Investment Advisory LLC and Roxbury Financial LLC, significantly increased their positions in Micron Technology during the first quarter.
• Analysts have increased their price targets for Micron Technology, with new targets set as high as $220.00, reflecting a strong interest in the company's stock among market analysts.

Trivium Point Advisory LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 25.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,824 shares of the semiconductor manufacturer's stock after selling 7,125 shares during the period. Trivium Point Advisory LLC's holdings in Micron Technology were worth $2,567,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Micron Technology in the 1st quarter worth about $33,000. Roxbury Financial LLC lifted its stake in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology in the 1st quarter worth about $36,000. Finally, Harbor Investment Advisory LLC increased its position in Micron Technology by 240.0% in the 1st 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 owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of several research reports. Cantor Fitzgerald upped their target price on Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Wedbush upped their target price on Micron Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. The Goldman Sachs Group upped their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Piper Sandler upped their target price on Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Finally, Mizuho upped their target price on Micron Technology from $182.00 to $195.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $184.77.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $163.90 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The firm has a market cap of $183.42 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 0.35 and a beta of 1.47. The business's 50-day simple moving average is $129.31 and its 200-day simple moving average is $108.64. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $170.45.

Micron Technology Announces Dividend

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

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the sale, the director owned 20,146 shares of the company's stock, valued at $2,330,287.82. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value 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 $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 sold 79,456 shares of company stock worth $10,524,945. Corporate insiders own 0.30% of the company's stock.

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.

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