Vermillion Wealth Management Inc. Boosts Holdings in Micron Technology, Inc. $MU

Vermillion Wealth Management Inc. grew its position in Micron Technology, Inc. (NASDAQ:MU) by 224.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695 shares of the semiconductor manufacturer’s stock after purchasing an additional 481 shares during the quarter. Vermillion Wealth Management Inc.’s holdings in Micron Technology were worth $86,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter valued at about $33,000. AllSquare Wealth Management LLC grew its stake in shares of 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 acquiring an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology during the first quarter worth about $36,000. Harbor Investment Advisory LLC increased its holdings in shares of Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Finally, Roxbury Financial LLC raised its position in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a filing 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 shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the transaction, the chief executive officer directly owned 325,148 shares of the company’s stock, valued at $52,739,005.60. The trade was a 4.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,308 shares of company stock valued at $9,952,167 in the last 90 days. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $157.27 on Monday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $170.45. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The stock has a market cap of $176.00 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.35 and a beta of 1.47. The business has a 50-day simple moving average of $128.30 and a 200-day simple moving average of $108.20.

Micron Technology Announces Dividend

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 given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

Wall Street Analysts Forecast Growth

MU has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Wolfe Research lifted their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Needham & Company LLC raised their target price on Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wedbush boosted their price target on Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, UBS Group increased 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. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus target price of $184.77.

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.