Micron Technology, Inc. $MU Shares Purchased by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2,600.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,026 shares of the semiconductor manufacturer’s stock after acquiring an additional 988 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Micron Technology were worth $126,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mission Wealth Management LP increased its position in Micron Technology by 195.2% in the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after acquiring an additional 10,348 shares during the period. Stock Yards Bank & Trust Co. acquired a new stake in Micron Technology in the 1st quarter valued at approximately $228,000. Clarius Group LLC increased its position in Micron Technology by 57.9% in the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer’s stock valued at $1,237,000 after acquiring an additional 5,220 shares during the period. Kera Capital Partners Inc. acquired a new stake in Micron Technology in the 2nd quarter valued at approximately $211,000. Finally, Tcfg Wealth Management LLC acquired a new stake in Micron Technology in the 2nd quarter valued at approximately $208,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares in the company, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction, the director owned 96,031 shares in the company, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,956 shares of company stock worth $22,841,025. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $196.54 on Thursday. The stock’s 50-day moving average price is $139.60 and its two-hundred day moving average price is $112.59. 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 company has a market cap of $220.61 billion, a PE ratio of 25.89, 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. 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 presently 6.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MU shares. Citigroup lifted their price target on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley upgraded Micron Technology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $220.00 in a research report on Monday. Cantor Fitzgerald lifted their price target on Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Finally, Arete Research upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $190.48.

About Micron Technology

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.