Wealthcare Advisory Partners LLC Cuts Stock Position in Micron Technology, Inc. $MU

Wealthcare Advisory Partners LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,174 shares of the semiconductor manufacturer’s stock after selling 107 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Micron Technology were worth $2,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Berger Financial Group Inc boosted its stake in Micron Technology by 1.7% in the 2nd quarter. Berger Financial Group Inc now owns 56,925 shares of the semiconductor manufacturer’s stock worth $7,016,000 after purchasing an additional 974 shares in the last quarter. Mount Vernon Associates Inc. MD bought a new position in Micron Technology in the 2nd quarter valued at approximately $259,000. Willner & Heller LLC purchased a new stake in Micron Technology during the 2nd quarter valued at $256,000. Stanich Group LLC bought a new stake in shares of Micron Technology in the 2nd quarter worth $229,000. Finally, Bank Hapoalim BM purchased a new position in Micron Technology in the 2nd quarter worth about $216,000. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction that occurred on Thursday, September 25th. The stock was 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. This trade represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,456 shares of company stock valued at $15,698,445 in the last ninety days. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

MU opened at $190.96 on Tuesday. The company has a 50 day simple moving average of $136.49 and a two-hundred day simple moving average 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. The firm has a market cap of $213.71 billion, a P/E ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $201.00.

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. 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 presently 6.06%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $220.00 in a research report on Monday. Rosenblatt Securities lifted their price objective on Micron Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Piper Sandler increased their target price on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Wedbush boosted their price target on Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Bank of America increased their price objective on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Buy” and an average price target of $187.08.

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.