Confluence Wealth Services Inc. Sells 162 Shares of Micron Technology, Inc. $MU

Confluence Wealth Services Inc. lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,465 shares of the semiconductor manufacturer’s stock after selling 162 shares during the period. Confluence Wealth Services Inc.’s holdings in Micron Technology were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the first quarter valued at about $33,000. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology during the first quarter valued at approximately $36,000. Hilltop National Bank bought a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $37,000. Finally, Saudi Central Bank acquired a new position in shares of Micron Technology in the 1st quarter worth approximately $38,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on MU shares. KGI Securities raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. UBS Group lifted their price objective on Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wedbush upped their target price on shares of Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. TD Cowen lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Morgan Stanley upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $160.00 to $220.00 in a research report on Monday. 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $187.08.

Micron Technology Trading Up 1.7%

MU opened at $190.96 on Tuesday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $201.00. The stock has a market capitalization of $213.71 billion, a PE ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $136.49 and a two-hundred day moving average price of $111.49.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is 6.06%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of Micron Technology 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 sale, the director directly owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,456 shares of company stock worth $15,698,445. 0.30% of the stock is owned by company insiders.

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.