Western Financial Corp CA Buys New Holdings in Micron Technology, Inc. $MU

Western Financial Corp CA acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,418 shares of the semiconductor manufacturer’s stock, valued at approximately $3,259,000. Micron Technology comprises 1.3% of Western Financial Corp CA’s holdings, making the stock its 16th largest holding.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Micron Technology by 21.7% during the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock valued at $435,000 after buying an additional 628 shares during the last quarter. United Bank bought a new position in Micron Technology during the second quarter valued at approximately $236,000. Schnieders Capital Management LLC. grew its holdings in Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after buying an additional 6,867 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Micron Technology by 7.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,239 shares of the semiconductor manufacturer’s stock worth $769,000 after acquiring an additional 421 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Scott R. Allen sold 2,000 shares of Micron Technology stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $337.50, for a total transaction of $675,000.00. Following the completion of the sale, the chief accounting officer directly owned 38,237 shares in the company, valued at approximately $12,904,987.50. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 25,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $429.89, for a total transaction of $10,747,250.00. Following the sale, the executive vice president directly owned 248,021 shares of the company’s stock, valued at $106,621,747.69. This represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have bought 23,200 shares of company stock valued at $7,821,723 and have sold 93,623 shares valued at $35,728,508. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MU shares. Needham & Company LLC raised their target price on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Barclays boosted their target price on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Stifel Nicolaus upped their target price on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Itau BBA Securities reiterated an “outperform” rating on shares of Micron Technology in a research report on Thursday, December 18th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $463.71.

Micron Technology Price Performance

Shares of NASDAQ:MU 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. The business has a 50 day simple moving average of $403.11 and a two-hundred day simple moving average of $300.90. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $471.34. The firm has a market capitalization of $413.02 billion, a PE ratio of 17.29 and a beta of 1.60.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th will be paid 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 yield of 0.2%. Micron Technology’s payout ratio is 2.83%.

About Micron Technology

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.