Stanich Group LLC Makes New Investment in Micron Technology, Inc. $MU

Stanich Group LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,931 shares of the semiconductor manufacturer’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Micron Technology in the first quarter worth $33,000. AllSquare Wealth Management LLC grew its holdings in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology in the first quarter worth $36,000. Hilltop National Bank purchased a new position in Micron Technology in the second quarter worth $37,000. Finally, Saudi Central Bank purchased a new position in Micron Technology in the first quarter worth $38,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 2.2%

NASDAQ MU opened at $187.83 on Friday. The company has a market capitalization of $210.20 billion, a PE ratio of 24.75, a P/E/G ratio of 0.40 and a beta of 1.56. The company has a fifty day moving average of $134.89 and a 200 day moving average of $110.70. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year 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 Dividend Announcement

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. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s payout ratio is currently 6.06%.

Insider Activity at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director directly owned 20,146 shares in the company, valued at approximately $2,330,287.82. The trade was a 10.66% 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 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Needham & Company LLC lifted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. TD Cowen boosted their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Piper Sandler boosted their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, Erste Group Bank initiated coverage on shares of Micron Technology in a report on Thursday, August 14th. They set a “buy” rating on the stock. Four investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.77.

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.