Diligent Investors LLC Has $361,000 Stock Holdings in Micron Technology, Inc. $MU

Diligent Investors LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,925 shares of the semiconductor manufacturer’s stock after selling 727 shares during the quarter. Diligent Investors LLC’s holdings in Micron Technology were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter worth approximately $33,000. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology during the 1st quarter worth $36,000. Hilltop National Bank bought a new stake in shares of Micron Technology in the 2nd quarter worth $37,000. Finally, Saudi Central Bank bought a new stake in shares of Micron Technology in the 1st quarter worth $38,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $187.83 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $134.89 and a two-hundred day simple moving average of $110.76. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $191.85. The firm has a market cap of $210.20 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director owned 96,031 shares in the company, valued at $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total transaction of $2,712,900.00. Following the sale, the chief executive officer owned 310,148 shares in the company, valued at $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MU. CLSA initiated coverage on shares of Micron Technology in a research report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price target on the stock. Robert W. Baird boosted their target price on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Cantor Fitzgerald upped their target price on Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Morgan Stanley lifted their price target on Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, September 22nd. Finally, Zacks Research raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.