Simplicity Wealth LLC Takes Position in Micron Technology, Inc. $MU

Simplicity Wealth LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, Holdings Channel.com reports. The fund purchased 7,073 shares of the semiconductor manufacturer’s stock, valued at approximately $872,000.

Several other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake 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 buying an additional 976 shares during the period. Vest Financial LLC purchased a new stake in Micron Technology in the 1st quarter worth about $577,000. Sivia Capital Partners LLC purchased a new stake in Micron Technology in the 1st quarter worth about $252,000. Wedmont Private Capital raised its stake in Micron Technology by 3.0% in the 1st quarter. Wedmont Private Capital now owns 13,766 shares of the semiconductor manufacturer’s stock valued at $1,196,000 after acquiring an additional 397 shares during the period. Finally, Miracle Mile Advisors LLC lifted its holdings in Micron Technology by 36.7% during the first quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer’s stock valued at $357,000 after purchasing an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total value of $2,712,900.00. Following the sale, the chief executive officer directly owned 310,148 shares of the company’s stock, valued at $56,093,367.28. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director owned 96,031 shares of the company’s stock, valued at approximately $14,950,106.08. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,456 shares of company stock worth $15,698,445. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 1.7%

MU opened at $190.96 on Tuesday. The firm has a market capitalization of $213.71 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $201.00. The company has a fifty day moving average price of $136.49 and a 200-day moving average price of $111.49. 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 Dividend Announcement

The firm also recently announced 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MU shares. KeyCorp lifted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. KGI Securities raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Wolfe Research increased their target price on Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Finally, Robert W. Baird lifted 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. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $187.08.

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.