Boston Common Asset Management LLC Reduces Stock Position in Micron Technology, Inc. $MU

Boston Common Asset Management LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 60.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 70,973 shares of the semiconductor manufacturer’s stock after selling 107,217 shares during the quarter. Boston Common Asset Management LLC’s holdings in Micron Technology were worth $8,747,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mission Wealth Management LP boosted its position in Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after buying an additional 10,348 shares during the period. TB Alternative Assets Ltd. boosted its position in Micron Technology by 331.3% during the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock valued at $6,933,000 after buying an additional 61,288 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in Micron Technology during the 1st quarter valued at $228,000. Clarius Group LLC boosted its position in Micron Technology by 57.9% during the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer’s stock valued at $1,237,000 after buying an additional 5,220 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in Micron Technology during the 2nd quarter valued at $211,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MU. Needham & Company LLC raised their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Mizuho raised their target price on shares of Micron Technology from $182.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Piper Sandler raised their target price on shares of Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. KeyCorp raised their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, Raymond James Financial raised their target price on shares of Micron Technology from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $184.77.

Micron Technology Stock Up 2.2%

Shares of Micron Technology stock opened at $187.83 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The company has a 50-day moving average of $134.89 and a 200 day moving average of $110.76. The firm has a market cap of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $191.85.

Micron Technology Dividend Announcement

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

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’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 sale, the executive vice president owned 131,580 shares of the company’s stock, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. 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 quarter. 0.30% of the stock is owned by company insiders.

Micron Technology 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.