Confluence Wealth Services Inc. Has $427,000 Position in Micron Technology, Inc. $MU

Confluence Wealth Services Inc. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,465 shares of the semiconductor manufacturer’s stock after selling 162 shares during the period. Confluence Wealth Services Inc.’s holdings in Micron Technology were worth $427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HMS Capital Management LLC grew its stake in Micron Technology by 0.6% in the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock valued at $2,375,000 after purchasing an additional 107 shares in the last quarter. D.B. Root & Company LLC lifted its holdings in shares of Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock valued at $262,000 after buying an additional 108 shares during the last quarter. Werlinich Asset Management LLC grew its stake in shares of Micron Technology by 1.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer’s stock valued at $1,317,000 after buying an additional 115 shares in the last quarter. Rise Advisors LLC raised its position in Micron Technology by 5.3% during the first quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer’s stock valued at $206,000 after acquiring an additional 120 shares in the last quarter. Finally, Orca Wealth Management LLC lifted its stake in Micron Technology by 1.5% in the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer’s stock valued at $737,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $190.96 on Tuesday. The company has a market cap of $213.71 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56. The business has a 50 day moving average price of $136.49 and a 200 day moving average price of $111.49. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $201.00.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MU shares. Bank of America increased their price target on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. KGI Securities raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. TD Cowen raised their target price on Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a report on Friday, September 19th. Summit Insights upgraded Micron Technology to a “strong-buy” rating in a research note on Tuesday, September 23rd. Finally, Mizuho increased their price objective on Micron Technology from $182.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $187.08.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were 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. The trade was a 10.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 directly owned 264,036 shares of the company’s stock, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,456 shares of company stock valued at $15,698,445 in the last three months. 0.30% of the stock is owned by insiders.

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.