RKL Wealth Management LLC Buys 503 Shares of Micron Technology, Inc. $MU

RKL Wealth Management LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,869 shares of the semiconductor manufacturer’s stock after acquiring an additional 503 shares during the quarter. RKL Wealth Management LLC’s holdings in Micron Technology were worth $3,188,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Micron Technology by 2.1% in the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock valued at $8,854,644,000 after purchasing an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after acquiring an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Micron Technology by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock worth $602,917,000 after acquiring an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after acquiring an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock worth $379,417,000 after purchasing an additional 17,970 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $182.15 on Thursday. The business has a fifty day moving average of $131.92 and a 200 day moving average of $109.55. The firm has a market capitalization of $203.85 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.56. 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 1 year low of $61.54 and a 1 year high of $182.39.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors 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 dividend on an annualized basis and a yield of 0.3%. Micron Technology’s dividend payout ratio (DPR) is currently 6.06%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director owned 96,031 shares in the company, valued at $14,950,106.08. The trade was a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the transaction, the chief executive officer owned 325,148 shares in the company, valued at approximately $52,739,005.60. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,456 shares of company stock valued at $10,524,945. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MU. Needham & Company LLC upped their price target on Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Stifel Nicolaus lifted their target price on Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Piper Sandler raised their price target on Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Raymond James Financial boosted their price target on Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 26th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $184.77.

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.