Butensky & Cohen Financial Security Inc. Cuts Stock Position in Micron Technology, Inc. $MU

Butensky & Cohen Financial Security Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 34.9% during the fourth quarter, Holdings Channel reports. The fund owned 27,099 shares of the semiconductor manufacturer’s stock after selling 14,522 shares during the period. Micron Technology makes up about 2.1% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 2nd biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Micron Technology were worth $7,734,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Cadent Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at approximately $304,000. Norden Group LLC boosted its position in shares of Micron Technology by 13.3% during the fourth quarter. Norden Group LLC now owns 7,293 shares of the semiconductor manufacturer’s stock valued at $2,081,000 after purchasing an additional 854 shares in the last quarter. Stableford Capital II LLC purchased a new stake in Micron Technology in the fourth quarter worth $1,500,000. Signal Advisors Wealth LLC raised its holdings in Micron Technology by 58.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 7,004 shares of the semiconductor manufacturer’s stock worth $1,999,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Gibson Wealth Advisors LLC bought a new position in Micron Technology in the fourth quarter worth $212,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $355.43 on Friday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $471.34. The company has a market capitalization of $400.83 billion, a P/E ratio of 16.78 and a beta of 1.50. The firm has a 50 day moving average of $406.31 and a 200 day moving average of $290.29. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 30th. 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%. Micron Technology’s dividend payout ratio is currently 2.17%.

Insiders Place Their Bets

In other Micron Technology news, CAO Scott R. Allen sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $337.50, for a total transaction of $675,000.00. Following the transaction, the chief accounting officer owned 38,237 shares in the company, valued at approximately $12,904,987.50. This represents a 4.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 26,623 shares of the firm’s 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 sale, the executive vice president directly owned 323,486 shares in the company, valued at approximately $126,495,965.44. The trade was a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 23,200 shares of company stock valued at $7,821,723 and sold 53,623 shares valued at $21,832,908. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MU shares. Barclays boosted their target price on shares of Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Wells Fargo & Company increased their price target on shares of Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Rosenblatt Securities reissued a “buy” rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $466.75.

View Our Latest Report on MU

Key Headlines Impacting Micron Technology

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About Micron Technology

(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.

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

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