Micron Technology, Inc. $MU Stock Holdings Increased by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,393 shares of the semiconductor manufacturer’s stock after purchasing an additional 456 shares during the quarter. Naples Global Advisors LLC’s holdings in Micron Technology were worth $5,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter worth approximately $33,000. AllSquare Wealth Management LLC raised its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in Micron Technology during the first quarter valued at approximately $36,000. Harbor Investment Advisory LLC raised its position in Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Finally, Saudi Central Bank bought a new position in Micron Technology during the first quarter valued at approximately $38,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MU. Summit Insights raised shares of Micron Technology to a “strong-buy” rating in a research report on Tuesday, September 23rd. Wolfe Research raised their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. KGI Securities raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Piper Sandler raised their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $184.77.

Micron Technology Trading Up 8.9%

NASDAQ:MU opened at $182.15 on Thursday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $182.39. The firm has a market cap of $203.85 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 0.37 and a beta of 1.56. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $131.92 and its 200-day moving average is $109.55.

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 0.3%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total value of $278,070.68. Following the sale, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 13,798 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the sale, the chief executive officer owned 325,148 shares in the company, valued at approximately $52,739,005.60. The trade was a 4.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,456 shares of company stock worth $10,524,945. Insiders own 0.30% of the company’s stock.

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.