55,951 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc purchased 55,951 shares of Micron Technology, valued at around $4.86 million, indicating strong institutional interest in the semiconductor manufacturer.
• Recent insider transactions include Director Steven J. Gomo selling 7,000 shares and CFO Mark J. Murphy selling 34,000 shares, reflecting a notable decrease in their ownership stakes.
• Micron Technology's stock has received a mixture of ratings, with some brokerages setting target prices as high as $165.00, demonstrating varied confidence among analysts regarding its future performance.

Berger Financial Group Inc purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,951 shares of the semiconductor manufacturer's stock, valued at approximately $4,862,000.

Several other institutional investors also recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the fourth quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the first quarter valued at $33,000. AllSquare Wealth Management LLC raised its stake in shares of Micron Technology by 100.0% during the first 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 during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Micron Technology during the first quarter valued at $36,000. Finally, Roxbury Financial LLC raised its stake in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Piper Sandler raised their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Susquehanna raised their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday, June 26th. Wedbush lifted their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Finally, Mizuho upped their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and an average target price of $146.44.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,042 shares of company stock valued at $34,679,277. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Up 6.3%

Shares of NASDAQ MU traded up $7.02 during trading on Friday, hitting $118.89. The stock had a trading volume of 28,916,857 shares, compared to its average volume of 21,298,196. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a fifty day moving average of $115.95 and a two-hundred day moving average of $98.12. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The company has a market capitalization of $133.05 billion, a PE ratio of 21.42 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter last year, the firm earned $0.62 EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is presently 8.29%.

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.