Simplicity Wealth LLC Makes New $872,000 Investment in Micron Technology, Inc. $MU

Key Points

• Simplicity Wealth LLC invested approximately $872,000 in Micron Technology by acquiring 7,073 shares in the 2nd quarter.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, representing a yield of 0.2%, with the payment date set for October 21st.
• Analyst ratings for Micron Technology remain positive, with a consensus of Buy and an average target price of $187.08.

Simplicity Wealth LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,073 shares of the semiconductor manufacturer's stock, valued at approximately $872,000.

A number of other institutional investors also recently modified their holdings of MU. Realta Investment Advisors acquired a new stake in Micron Technology in the second quarter worth $503,000. Berger Financial Group Inc grew its stake in shares of Micron Technology by 1.7% in the 2nd quarter. Berger Financial Group Inc now owns 56,925 shares of the semiconductor manufacturer's stock valued at $7,016,000 after buying an additional 974 shares during the period. Mount Vernon Associates Inc. MD acquired a new stake in shares of Micron Technology in the 2nd quarter valued at about $259,000. Willner & Heller LLC bought a new stake in Micron Technology in the 2nd quarter valued at about $256,000. Finally, Stanich Group LLC acquired a new position in Micron Technology during the 2nd quarter worth approximately $229,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Price Performance

MU opened at $190.96 on Tuesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $201.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The company has a market capitalization of $213.71 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 0.41 and a beta of 1.56. The firm's fifty day moving average price is $136.49 and its two-hundred day moving average price is $111.49.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Erste Group Bank started coverage on Micron Technology in a research note on Thursday, August 14th. They issued a "buy" rating for the company. Barclays increased their target price on Micron Technology from $140.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Susquehanna boosted their price target on shares of Micron Technology from $160.00 to $200.00 and gave the company a "positive" rating in a research note on Wednesday, September 17th. Citigroup upped their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Mizuho raised their price objective on shares of Micron Technology from $182.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Buy" and an average target price of $187.08.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares of the company's stock, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,456 shares of company stock worth $15,698,445. Corporate insiders own 0.30% of the company's stock.

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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