Diligent Investors LLC Sells 727 Shares of Micron Technology, Inc. $MU

Diligent Investors LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 19.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,925 shares of the semiconductor manufacturer’s stock after selling 727 shares during the quarter. Diligent Investors LLC’s holdings in Micron Technology were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of 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 acquiring an additional 976 shares during the period. Merit Financial Group LLC lifted its stake in Micron Technology by 22.6% in the 1st quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock worth $1,692,000 after purchasing an additional 3,593 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Micron Technology by 48.4% in the 1st 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 period. Vest Financial LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at $577,000. Finally, Signal Advisors Wealth LLC grew its position in shares of Micron Technology by 4.5% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.2%

Shares of MU opened at $187.83 on Friday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $191.85. 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 stock has a 50 day simple moving average of $134.89 and a two-hundred day simple moving average of $110.76. The firm has a market cap of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.41 and a beta of 1.56.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a $0.115 dividend. 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 currently 6.06%.

Insider Buying and Selling at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the sale, the executive vice president directly owned 131,580 shares of the company’s stock, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,456 shares of company stock valued at $15,698,445. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MU. Wolfe Research lifted their price objective on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. CLSA began coverage on Micron Technology in a report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Zacks Research raised Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Citigroup raised their target price on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Stifel Nicolaus lifted their target price on shares of Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.77.

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.