4,999 Shares in Micron Technology, Inc. $MU Purchased by Cane Capital Partners LLC

Cane Capital Partners LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,999 shares of the semiconductor manufacturer’s stock, valued at approximately $1,427,000.

Other large investors have also modified their holdings of the company. Elevation Wealth Partners LLC boosted its position in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 71 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $40,000. REAP Financial Group LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Micron Technology by 79.3% during the third quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Key Stories Impacting Micron Technology

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

Micron Technology Stock Down 0.0%

Shares of NASDAQ MU opened at $377.58 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market capitalization of $425.81 billion, a price-to-earnings ratio of 17.83 and a beta of 1.60. The stock has a 50 day moving average price of $402.23 and a 200 day moving average price of $303.88. Micron Technology, Inc. has a 52-week low of $63.52 and a 52-week high of $471.34.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 30th will be issued a $0.15 dividend. The ex-dividend date is Monday, March 30th. This is a positive change 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 0.2%. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. The Goldman Sachs Group boosted 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. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Micron Technology in a research report on Monday, March 16th. Phillip Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Monday, February 2nd. William Blair initiated coverage on Micron Technology in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, HSBC boosted their target price on Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Five research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $463.71.

Read Our Latest Analysis on MU

Insider Transactions at Micron Technology

In related news, EVP Sumit Sadana sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $429.89, for a total value of $10,747,250.00. Following the completion of the sale, the executive vice president owned 248,021 shares in the company, valued at approximately $106,621,747.69. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teyin M. Liu purchased 7,820 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was purchased at an average price of $337.50 per share, with a total value of $2,639,250.00. Following the acquisition, the director directly owned 25,910 shares of the company’s stock, valued at $8,744,625. This trade represents a 43.23% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 23,200 shares of company stock worth $7,821,723 and have sold 91,623 shares worth $35,053,508. Company insiders own 0.24% of the company’s stock.

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.

Further Reading

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

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