Micron Technology, Inc. $MU Stock Holdings Lessened by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 61.4% in the second quarter, Holdings Channel.com reports. The firm owned 13,323 shares of the semiconductor manufacturer’s stock after selling 21,220 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Micron Technology were worth $1,642,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MU. Vanguard Group Inc. raised its position in Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock valued at $8,854,644,000 after acquiring an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after acquiring an additional 2,038,641 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock valued at $602,917,000 after acquiring an additional 58,285 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after acquiring an additional 1,416,174 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Micron Technology by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock valued at $379,417,000 after acquiring an additional 17,970 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MU shares. JPMorgan Chase & Co. increased their price target on Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Piper Sandler increased their price target on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Citigroup increased their price target on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Itau BBA Securities initiated coverage on shares of Micron Technology in a research note on Tuesday. They issued an “outperform” rating and a $249.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Four equities research 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 company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $189.37.

Micron Technology Stock Down 2.8%

Shares of NASDAQ MU opened at $185.69 on Wednesday. The stock has a market cap of $208.43 billion, a PE ratio of 24.47, a PEG ratio of 0.42 and a beta of 1.56. The business has a fifty day moving average of $137.96 and a two-hundred day moving average of $112.01. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $201.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Insider Buying and Selling

In related news, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated 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. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,956 shares of company stock valued at $22,841,025 in the last ninety days. Insiders own 0.30% of the company’s stock.

Micron Technology Company 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.