Micron Technology, Inc. $MU Shares Acquired by Y.D. More Investments Ltd

Y.D. More Investments Ltd lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 88.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,848 shares of the semiconductor manufacturer’s stock after purchasing an additional 17,321 shares during the period. Micron Technology comprises about 0.5% of Y.D. More Investments Ltd’s investment portfolio, making the stock its 27th biggest holding. Y.D. More Investments Ltd’s holdings in Micron Technology were worth $10,533,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Elevation Wealth Partners LLC raised its stake in 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 in the last quarter. Noble Wealth Management PBC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $40,000. REAP Financial Group LLC acquired a new position in shares of Micron Technology in the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of Micron Technology by 79.3% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 88 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Manish H. Bhatia sold 26,623 shares of the 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 owned 323,486 shares of the company’s stock, valued at $126,495,965.44. This represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 23,200 shares of company stock valued at $7,821,723 and sold 93,623 shares valued at $35,728,508. Company insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $366.24 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $471.34. The business’s fifty day moving average price is $403.11 and its two-hundred day moving average price is $300.90. The company has a market capitalization of $413.02 billion, a P/E ratio of 17.29 and a beta of 1.60.

Micron Technology Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MU. Needham & Company LLC raised their price objective on Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Citigroup reduced their price target on shares of Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. 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 data from MarketBeat, the company has an average rating of “Buy” and an average target price of $463.71.

Micron Technology Company 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.