New Wave Wealth Advisors LLC Invests $230,000 in Micron Technology, Inc. $MU

Key Points

• New Wave Wealth Advisors LLC invested approximately $230,000 in Micron Technology, acquiring 1,867 shares of the semiconductor manufacturer.
• Micron Technology's CFO recently sold 34,000 shares at an average price of $109.32, resulting in a notable 11.41% decrease in his holdings.
• Multiple analysts have recently upgraded Micron's stock ratings, with some setting the price target to as high as $220.00, indicating strong market confidence.

New Wave Wealth Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,867 shares of the semiconductor manufacturer's stock, valued at approximately $230,000.

Other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Micron Technology in the 1st quarter valued at approximately $33,000. AllSquare Wealth Management LLC raised its holdings in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in Micron Technology in the 1st quarter valued at approximately $36,000. Harbor Investment Advisory LLC raised its holdings in Micron Technology by 240.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the last quarter. Finally, Saudi Central Bank bought a new position in Micron Technology in the 1st quarter valued at approximately $38,000. Institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other news, 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 transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. This trade represents a 11.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard M. Beyer sold 5,552 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was 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 trade represents a 5.47% decrease in their position. The disclosure for this sale can be found here. In 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 Stock Performance

Shares of MU stock opened at $182.15 on Thursday. The company has a market cap of $203.85 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.56. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $182.39. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $131.92 and a 200-day moving average of $109.55.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MU shares. Summit Insights upgraded shares of Micron Technology to a "strong-buy" rating in a report on Tuesday, September 23rd. Wells Fargo & Company raised their price target on shares of Micron Technology from $170.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $185.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Raymond James Financial raised their price target on shares of Micron Technology from $150.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Finally, KGI Securities upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 24th. Four 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $184.77.

About Micron Technology

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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