Ameritas Advisory Services LLC Makes New $235,000 Investment in Micron Technology, Inc. $MU

Key Points

• Ameritas Advisory Services LLC has made a new investment of $235,000 in Micron Technology, acquiring 1,907 shares of the semiconductor manufacturer in the second quarter.
• Micron recently declared a quarterly dividend of $0.115 per share, which will be paid out on October 21st, showcasing a yield of 0.2% based on its annualized dividend.
• Multiple analysts have raised their price targets for Micron Technology, with JPMorgan increasing it from $185.00 to $220.00, and Deutsche Bank from $175.00 to $200.00, indicating strong market optimism.

Ameritas Advisory Services LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,907 shares of the semiconductor manufacturer's stock, valued at approximately $235,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mission Wealth Management LP lifted its position in Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after acquiring an additional 10,348 shares during the period. Stock Yards Bank & Trust Co. acquired a new stake in Micron Technology during the 1st quarter worth approximately $228,000. Clarius Group LLC lifted its position in Micron Technology by 57.9% during the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer's stock worth $1,237,000 after acquiring an additional 5,220 shares during the period. Kera Capital Partners Inc. acquired a new stake in Micron Technology during the 2nd quarter worth approximately $211,000. Finally, Petredis Investment Advisors LLC lifted its position in Micron Technology by 108.2% during the 1st quarter. Petredis Investment Advisors LLC now owns 79,799 shares of the semiconductor manufacturer's stock worth $6,934,000 after acquiring an additional 41,468 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

NASDAQ MU opened at $185.69 on Wednesday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $201.00. The company has a market capitalization of $208.43 billion, a P/E ratio of 24.47, a PEG ratio of 0.42 and a beta of 1.56. The business has a 50 day moving average price of $137.96 and a 200 day moving average price of $112.01. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. 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 presently 6.06%.

Wall Street Analyst Weigh In

Several analysts have recently commented on MU shares. Barclays raised their price target on Micron Technology from $140.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, September 19th. JPMorgan Chase & Co. raised their price target on Micron Technology from $185.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. TD Cowen raised their price target on Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a report on Friday, September 19th. Finally, Morgan Stanley raised Micron Technology from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $160.00 to $220.00 in a report on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $189.37.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 21,563 shares of the firm's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the completion of the transaction, the chief executive officer owned 272,648 shares of the company's stock, valued at approximately $51,385,968.56. This trade represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company's stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is currently owned by corporate insiders.

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.

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