New Wave Wealth Advisors LLC Purchases New Stake in Micron Technology, Inc. $MU

New Wave Wealth Advisors LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,867 shares of the semiconductor manufacturer’s stock, valued at approximately $230,000.

Several other hedge funds have also bought and sold shares of MU. Brighton Jones LLC grew its position in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after purchasing an additional 976 shares during the period. Harbor Investment Advisory LLC grew its position in 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 during the period. Merit Financial Group LLC grew its position 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 valued at $1,692,000 after purchasing an additional 3,593 shares during the period. HBW Advisory Services LLC acquired a new stake in Micron Technology in the 1st quarter valued at $281,000. Finally, Romano Brothers AND Company acquired a new stake in Micron Technology in the 1st quarter valued at $497,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction 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 directly owned 96,031 shares in the company, valued at $14,950,106.08. The trade was a 5.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 13,798 shares of Micron Technology stock in a transaction on Friday, September 19th. The stock was sold at an average price of $162.20, for a total value of $2,238,035.60. Following the sale, the chief executive officer owned 325,148 shares in the company, valued at $52,739,005.60. The trade was 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 have sold 79,456 shares of company stock valued at $10,524,945. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 26th. Robert W. Baird raised their price objective on Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Piper Sandler raised their price objective on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Stifel Nicolaus raised their price objective on Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Arete Research upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $184.77.

Micron Technology Trading Up 8.9%

NASDAQ MU opened at $182.15 on Thursday. The stock has a market capitalization of $203.85 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 0.37 and a beta of 1.56. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $182.39. 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 business’s fifty day moving average is $131.92 and its 200-day moving average is $109.55.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders 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 dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is presently 6.06%.

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.