111 Capital Purchases 19,205 Shares of Micron Technology, Inc. $MU

111 Capital raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 160.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,179 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,205 shares during the period. Micron Technology comprises 0.7% of 111 Capital’s portfolio, making the stock its 25th biggest position. 111 Capital’s holdings in Micron Technology were worth $3,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mission Wealth Management LP raised 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 purchasing an additional 10,348 shares in the last quarter. TB Alternative Assets Ltd. raised 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 purchasing an additional 61,288 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in Micron Technology during the 1st quarter valued at $228,000. Clarius Group LLC raised 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 purchasing an additional 5,220 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in Micron Technology during the 2nd quarter valued at $211,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 2.2%

Shares of NASDAQ:MU opened at $187.83 on Friday. The business’s 50-day moving average is $134.89 and its 200 day moving average is $110.70. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $191.85. The firm has a market capitalization of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.40 and a beta of 1.56. 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 announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Wedbush boosted their price target on Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Stifel Nicolaus boosted their price target on Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Summit Insights raised Micron Technology to a “strong-buy” rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. boosted their price target on Micron Technology from $185.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, TD Cowen boosted their price target on Micron Technology from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $184.77.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company’s stock, valued at $21,584,383.20. This represents a 10.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,456 shares of company stock worth $15,698,445 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

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.