JSF Financial LLC Cuts Holdings in Micron Technology, Inc. $MU

JSF Financial LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 3.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,430 shares of the semiconductor manufacturer’s stock after selling 138 shares during the period. JSF Financial LLC’s holdings in Micron Technology were worth $423,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the first quarter worth approximately $33,000. AllSquare Wealth Management LLC raised its stake in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $36,000. Hilltop National Bank acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $37,000. Finally, Saudi Central Bank purchased a new stake in Micron Technology in the 1st quarter worth $38,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Micron Technology stock opened at $187.83 on Friday. The company has a 50-day moving average price of $134.89 and a 200 day moving average price of $110.76. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $191.85. 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 stock has a market cap of $210.20 billion, a P/E ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued 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 dividend payout ratio is currently 6.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MU shares. Wall Street Zen lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Micron Technology in a research note on Saturday, September 27th. Piper Sandler raised their price target on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Needham & Company LLC increased their target price on Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, UBS Group increased their target price on Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.77.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00. Following the sale, the chief executive officer owned 310,148 shares in the company, valued at $56,093,367.28. The trade was a 4.61% 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 109,456 shares of company stock worth $15,698,445 over the last ninety days. Company insiders own 0.30% of the company’s stock.

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.