Roundview Capital LLC Sells 3,626 Shares of Micron Technology, Inc. $MU

Key Points

• Roundview Capital LLC has reduced its stake in Micron Technology by 26.7%, selling 3,626 shares for a total worth of approximately $1,224,000.
• Several hedge funds have increased their stakes in Micron Technology, with Brighton Jones LLC seeing an 18.3% increase in its holdings during the fourth quarter.
• Wall Street analysts have a positive outlook for Micron, with multiple firms raising their price targets, including Bank of America and JPMorgan Chase & Co, anticipating significant stock growth.

Roundview Capital LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 26.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,931 shares of the semiconductor manufacturer's stock after selling 3,626 shares during the period. Roundview Capital LLC's holdings in Micron Technology were worth $1,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Brighton Jones LLC increased its stake in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the period. Miracle Mile Advisors LLC increased its stake in Micron Technology by 36.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer's stock worth $357,000 after acquiring an additional 1,102 shares during the period. Park Avenue Securities LLC increased its stake in Micron Technology by 17.4% during the 1st quarter. Park Avenue Securities LLC now owns 30,191 shares of the semiconductor manufacturer's stock worth $2,623,000 after acquiring an additional 4,480 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Micron Technology by 17.6% in the 1st quarter. Capital Investment Advisors LLC now owns 7,429 shares of the semiconductor manufacturer's stock valued at $645,000 after purchasing an additional 1,112 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 12.9% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MU shares. Bank of America raised their target price on Micron Technology from $140.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Rosenblatt Securities raised their target price on Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Summit Insights raised Micron Technology to a "strong-buy" rating in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. raised their target price on Micron Technology from $185.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of "Buy" and an average price target of $189.37.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company's stock, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,956 shares of company stock valued at $22,841,025 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Down 2.8%

NASDAQ MU opened at $185.69 on Wednesday. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $201.00. The company has a market cap of $208.43 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 0.42 and a beta of 1.56. The business's fifty day moving average is $137.96 and its 200 day moving average is $112.01.

Micron Technology Announces Dividend

The business 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 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 yield of 0.2%. Micron Technology's payout ratio is presently 6.06%.

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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