Eagle Wealth Strategies LLC Makes New Investment in Micron Technology, Inc. $MU

Eagle Wealth Strategies LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,663 shares of the semiconductor manufacturer’s stock, valued at approximately $205,000.

Other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at approximately $33,000. Roxbury Financial LLC raised its position in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. AllSquare Wealth Management LLC raised its position in shares of 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 purchasing an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology in the 1st quarter valued at approximately $36,000. Finally, Harbor Investment Advisory LLC raised its position in shares of 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 purchasing an additional 300 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,456 shares of company stock worth $10,524,945. 0.30% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $163.90 on Tuesday. The company has a market cap of $183.42 billion, a P/E ratio of 21.59, a PEG ratio of 0.35 and a beta of 1.47. The stock has a fifty day moving average price of $129.31 and a 200 day moving average price of $108.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upped their target price on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Stifel Nicolaus upped their price target on Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Wall Street Zen raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday. Robert W. Baird upped their price target on Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Finally, Susquehanna upped their price target on Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, September 17th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Buy” and a consensus 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.