Fortitude Advisory Group L.L.C. Increases Position in Micron Technology, Inc. $MU

Fortitude Advisory Group L.L.C. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 109.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,915 shares of the semiconductor manufacturer’s stock after buying an additional 3,611 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Micron Technology were worth $852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mission Wealth Management LP raised its holdings in Micron Technology by 195.2% during the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock worth $1,360,000 after purchasing an additional 10,348 shares in the last quarter. TB Alternative Assets Ltd. raised its holdings in Micron Technology by 331.3% during the first quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock worth $6,933,000 after purchasing an additional 61,288 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in Micron Technology during the first quarter worth about $228,000. Clarius Group LLC raised its holdings in Micron Technology by 57.9% during the first quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer’s stock worth $1,237,000 after purchasing an additional 5,220 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in Micron Technology during the second quarter worth about $211,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $185.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. UBS Group increased their price target on shares of Micron Technology from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. CLSA assumed coverage on shares of Micron Technology in a report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price target for the company. Cantor Fitzgerald increased their price target on shares of Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, KeyCorp increased their price target on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.77.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred 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 directly owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director owned 96,031 shares in the company, valued at $14,950,106.08. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,456 shares of company stock valued at $15,698,445 over the last three months. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 2.2%

MU stock opened at $187.83 on Friday. The company’s 50 day simple moving average is $134.89 and its 200-day simple moving average is $110.76. The firm has a market capitalization of $210.20 billion, a PE ratio of 24.75, a P/E/G ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $191.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be given 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 is currently 6.06%.

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.