Micron Technology, Inc. $MU Stake Increased by Wallington Asset Management LLC

Wallington Asset Management LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,214 shares of the semiconductor manufacturer’s stock after purchasing an additional 606 shares during the period. Wallington Asset Management LLC’s holdings in Micron Technology were worth $5,203,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Mission Wealth Management LP boosted its position 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 valued at $1,360,000 after purchasing an additional 10,348 shares during the last quarter. TB Alternative Assets Ltd. boosted its position 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 valued at $6,933,000 after purchasing an additional 61,288 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in Micron Technology during the first quarter valued at $228,000. Clarius Group LLC boosted its position in Micron Technology by 57.9% during the first 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 during the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in Micron Technology during the second quarter valued at $211,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00. Following the sale, the chief executive officer directly owned 310,148 shares in the company, valued at approximately $56,093,367.28. This trade represents a 4.61% 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 valued at $15,698,445 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MU. Mizuho lifted their price objective on Micron Technology from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Arete Research upgraded Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. The Goldman Sachs Group raised their target price on Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Wedbush raised their target price on Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, KeyCorp raised their target price on Micron Technology from $160.00 to $215.00 and gave the company 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 issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.77.

Micron Technology Trading Up 2.2%

Micron Technology stock opened at $187.83 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The business’s 50-day simple moving average is $134.89 and its 200-day simple moving average is $110.70. The firm has a market capitalization of $210.20 billion, a PE ratio of 24.75, a PEG ratio of 0.40 and a beta of 1.56. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $191.85.

Micron Technology Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology’s payout ratio is presently 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.