Orca Wealth Management LLC Purchases 4,494 Shares of Micron Technology, Inc. $MU

Key Points

• Orca Wealth Management LLC increased its stake in Micron Technology, Inc. by 53% by purchasing an additional 4,494 shares, now holding a total of 12,979 shares valued at approximately $1.6 million.
• Several institutional investors have also raised their stakes in Micron Technology, contributing to a total institutional ownership of 80.84% of the company's stock.
• Micron Technology announced a quarterly dividend of $0.115 per share, with a record date of October 3rd and an ex-dividend date also on October 3rd, representing a 0.2% dividend yield.

Orca Wealth Management LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 53.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,979 shares of the semiconductor manufacturer's stock after purchasing an additional 4,494 shares during the quarter. Micron Technology accounts for 1.3% of Orca Wealth Management LLC's portfolio, making the stock its 27th biggest position. Orca Wealth Management LLC's holdings in Micron Technology were worth $1,600,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MU. Brighton Jones LLC lifted its position in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the last quarter. Merit Financial Group LLC lifted its position in Micron Technology by 22.6% in the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer's stock valued at $1,692,000 after purchasing an additional 3,593 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Micron Technology by 48.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,965 shares of the semiconductor manufacturer's stock valued at $1,127,000 after purchasing an additional 4,226 shares during the last quarter. Vest Financial LLC bought a new stake in Micron Technology in the first quarter valued at approximately $577,000. Finally, Signal Advisors Wealth LLC lifted its position in Micron Technology by 4.5% in the first quarter. Signal Advisors Wealth LLC now owns 13,322 shares of the semiconductor manufacturer's stock valued at $1,158,000 after purchasing an additional 578 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction 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 directly owned 20,146 shares of the company's stock, valued at approximately $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 15,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the sale, the chief executive officer directly owned 310,148 shares in the company, valued at approximately $56,093,367.28. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,456 shares of company stock valued at $15,698,445. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

MU has been the subject of several recent research reports. KeyCorp boosted their price objective on Micron Technology from $160.00 to $215.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Raymond James Financial boosted their target price on Micron Technology from $150.00 to $190.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. TD Cowen boosted their target price on Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Finally, Cantor Fitzgerald boosted their target price on Micron Technology from $185.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $184.77.

Micron Technology Price Performance

Shares of MU stock opened at $187.83 on Friday. The stock has a market cap of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56. The business's fifty day moving average is $134.89 and its 200 day moving average is $110.76. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $191.85. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Announces Dividend

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

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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