Financial Synergies Wealth Advisors Inc. Acquires New Stake in Micron Technology, Inc. $MU

Financial Synergies Wealth Advisors Inc. acquired a new stake in Micron Technology, Inc. (NASDAQ:MUFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,610 shares of the semiconductor manufacturer’s stock, valued at approximately $1,316,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. AQR Capital Management LLC raised its holdings in shares of Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after buying an additional 2,918,535 shares during the period. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after buying an additional 1,954,644 shares during the period. California Public Employees Retirement System raised its holdings in shares of Micron Technology by 70.2% in the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after buying an additional 1,246,773 shares during the period. Voloridge Investment Management LLC raised its holdings in shares of Micron Technology by 1,064.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after buying an additional 1,192,433 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after purchasing an additional 1,188,296 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 4.8%

MU opened at $731.99 on Thursday. The business has a 50 day moving average price of $498.20 and a two-hundred day moving average price of $381.87. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The company has a market cap of $825.49 billion, a PE ratio of 34.56 and a beta of 1.91. Micron Technology, Inc. has a 52 week low of $90.93 and a 52 week high of $818.67.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Micron Technology News Roundup

Here are the key news stories impacting Micron Technology this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their price target on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Citigroup upped their price objective on Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson began coverage on Micron Technology in a research report on Monday, May 11th. They set a “buy” rating and a $1,000.00 price objective for the company. The Goldman Sachs Group upped their target price on Micron Technology from $360.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. Finally, Needham & Company LLC upped their target price on Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Buy” and an average price target of $518.47.

Read Our Latest Report on Micron Technology

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 106,000 shares of company stock valued at $47,032,460 in the last quarter. 0.24% of the stock is currently owned by insiders.

Micron Technology Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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