Micron Technology, Inc. $MU Shares Acquired by Cromwell Holdings LLC

Cromwell Holdings LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,519 shares of the semiconductor manufacturer’s stock after acquiring an additional 359 shares during the quarter. Cromwell Holdings LLC’s holdings in Micron Technology were worth $434,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Hilltop National Bank acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $37,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Micron Technology by 0.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,426,406 shares of the semiconductor manufacturer’s stock valued at $175,805,000 after purchasing an additional 8,215 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $1,730,000. UG Investment Advisers Ltd. increased its stake in shares of Micron Technology by 5.5% in the second quarter. UG Investment Advisers Ltd. now owns 825,664 shares of the semiconductor manufacturer’s stock valued at $101,763,000 after purchasing an additional 43,249 shares during the period. Finally, ASR Vermogensbeheer N.V. increased its stake in shares of Micron Technology by 1.3% in the second quarter. ASR Vermogensbeheer N.V. now owns 104,954 shares of the semiconductor manufacturer’s stock valued at $12,935,000 after purchasing an additional 1,328 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard M. Beyer sold 5,552 shares of the firm’s stock in a transaction 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 transaction, the director owned 96,031 shares in the company, valued at approximately $14,950,106.08. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 131,580 shares in the company, valued at $21,584,383.20. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,456 shares of company stock worth $12,985,545. Insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 0.9%

Shares of NASDAQ:MU opened at $183.75 on Friday. The stock has a market capitalization of $205.64 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 0.40 and a beta of 1.56. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $186.18. 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 company has a 50 day moving average price of $133.36 and a 200 day moving average price of $110.11.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. Micron Technology’s dividend payout ratio is presently 6.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MU shares. Morgan Stanley raised their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, September 22nd. Robert W. Baird increased their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Wolfe Research increased their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, Piper Sandler increased 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. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $184.77.

About Micron Technology

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.