Tcfg Wealth Management LLC Purchases New Position in Micron Technology, Inc. $MU

Tcfg Wealth Management LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,691 shares of the semiconductor manufacturer’s stock, valued at approximately $208,000.

Several other institutional investors also recently bought and sold shares of MU. Brighton Jones LLC increased its position 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 in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Micron Technology by 36.7% in the first quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer’s stock valued at $357,000 after buying an additional 1,102 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Micron Technology by 17.4% in the first quarter. Park Avenue Securities LLC now owns 30,191 shares of the semiconductor manufacturer’s stock valued at $2,623,000 after buying an additional 4,480 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Micron Technology by 17.6% in the first quarter. Capital Investment Advisors LLC now owns 7,429 shares of the semiconductor manufacturer’s stock valued at $645,000 after buying an additional 1,112 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in shares of Micron Technology by 12.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer’s stock valued at $314,000 after buying an additional 413 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ MU opened at $185.69 on Wednesday. The stock’s fifty day moving average is $137.96 and its two-hundred day moving average is $112.01. The firm has a market capitalization of $208.43 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 0.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $201.00.

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 given a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s payout ratio is currently 6.06%.

Analysts Set New Price Targets

A number of analysts have recently commented on MU shares. Cantor Fitzgerald boosted their price objective on Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. KGI Securities upgraded Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Citigroup lifted their price target on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Zacks Research raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. Finally, Summit Insights raised Micron Technology to a “strong-buy” rating in a research note on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Buy” and a consensus target price of $189.37.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 21,563 shares of Micron Technology stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total value of $4,063,978.61. Following the sale, the chief executive officer owned 272,648 shares in the company, valued at $51,385,968.56. The trade was a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the sale, the executive vice president owned 131,580 shares in the company, valued at $21,584,383.20. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,956 shares of company stock worth $22,841,025 over the last quarter. 0.30% of the stock is currently owned by company insiders.

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.