TriaGen Wealth Management LLC Takes $871,000 Position in Micron Technology, Inc. $MU

TriaGen Wealth Management LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,053 shares of the semiconductor manufacturer’s stock, valued at approximately $871,000.

A number of other large investors have also recently added to or reduced their stakes in MU. Vanguard Group Inc. lifted its holdings in shares of Micron Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 104,653,450 shares of the semiconductor manufacturer’s stock valued at $17,510,615,000 after purchasing an additional 773,788 shares in the last quarter. State Street Corp increased its stake in shares of Micron Technology by 0.6% during the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after purchasing an additional 285,582 shares in the last quarter. Capital International Investors raised its position in shares of Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares during the last quarter. Invesco Ltd. raised its position in shares of Micron Technology by 8.0% during the 3rd quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after purchasing an additional 708,716 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Micron Technology by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock valued at $1,217,394,000 after buying an additional 135,850 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Sumit Sadana sold 25,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $429.89, for a total transaction of $10,747,250.00. Following the completion of the sale, the executive vice president directly owned 248,021 shares of the company’s stock, valued at approximately $106,621,747.69. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Manish H. Bhatia sold 26,623 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $391.04, for a total transaction of $10,410,657.92. Following the completion of the transaction, the executive vice president directly owned 323,486 shares of the company’s stock, valued at approximately $126,495,965.44. The trade was a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 115,623 shares of company stock worth $45,165,908. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. TD Cowen boosted their price objective on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Micron Technology in a research note on Thursday, January 29th. Erste Group Bank downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Piper Sandler lifted their price target on Micron Technology from $275.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus target price of $464.61.

Micron Technology Price Performance

MU stock opened at $455.07 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a 1 year low of $65.64 and a 1 year high of $471.34. The firm has a market cap of $513.20 billion, a P/E ratio of 21.49 and a beta of 1.60. The stock has a 50-day simple moving average of $406.41 and a 200-day simple moving average of $319.30.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a dividend of $0.15 per share. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology’s payout ratio is 2.83%.

Micron Technology Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.