Micron Technology, Inc. $MU Shares Bought by Berger Financial Group Inc

Berger Financial Group Inc increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,925 shares of the semiconductor manufacturer’s stock after buying an additional 974 shares during the quarter. Berger Financial Group Inc’s holdings in Micron Technology were worth $7,016,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of Micron Technology by 22.6% in the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock worth $1,692,000 after purchasing an additional 3,593 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Micron Technology by 48.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,965 shares of the semiconductor manufacturer’s stock valued at $1,127,000 after purchasing an additional 4,226 shares during the period. Vest Financial LLC bought a new stake in shares of Micron Technology during the first quarter valued at about $577,000. Finally, Signal Advisors Wealth LLC lifted its holdings in Micron Technology by 4.5% in the first quarter. Signal Advisors Wealth LLC now owns 13,322 shares of the semiconductor manufacturer’s stock worth $1,158,000 after purchasing an additional 578 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s 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 completion of the sale, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the sale, the chief executive officer directly owned 310,148 shares in the company, valued at approximately $56,093,367.28. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MU. Needham & Company LLC upped their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. UBS Group upped their target price on Micron Technology from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen boosted their price objective on Micron Technology from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Citigroup lifted their target price on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Four 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.77.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $187.83 on Friday. The company’s fifty day moving average is $134.89 and its two-hundred day moving average is $110.76. The company has a market cap of $210.20 billion, a P/E ratio of 24.75, a price-to-earnings-growth 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 quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is currently 6.06%.

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.