Bank Hapoalim BM Takes $216,000 Position in Micron Technology, Inc. $MU

Key Points

• Bank Hapoalim BM has made a new investment in Micron Technology, purchasing 1,755 shares valued at approximately $216,000 in the second quarter.
• Several large investors, including Brighton Jones LLC and Merit Financial Group LLC, have increased their positions in Micron Technology, with institutional investors owning 80.84% of the company.
• Micron Technology is set to pay a quarterly dividend of $0.115 on October 21st, representing a 0.2% dividend yield for investors.

Bank Hapoalim BM purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,755 shares of the semiconductor manufacturer's stock, valued at approximately $216,000.

A number of other large investors have also made changes to their positions in MU. Brighton Jones LLC grew its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares in the last quarter. Merit Financial Group LLC grew its position in 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 acquiring an additional 3,593 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in 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 worth $1,127,000 after acquiring an additional 4,226 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Micron Technology by 30.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,350 shares of the semiconductor manufacturer's stock worth $465,000 after acquiring an additional 1,257 shares during the last quarter. Finally, Vest Financial LLC acquired a new stake in Micron Technology during the first quarter worth $577,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the 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 sale, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 15,000 shares of the stock in a transaction on 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 owned 310,148 shares in the company, valued at approximately $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. Insiders have sold a total of 109,456 shares of company stock valued at $15,698,445 in the last three months. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 2.2%

Shares of NASDAQ MU opened at $187.83 on Friday. The stock has a market cap of $210.20 billion, a P/E ratio of 24.75, a PEG ratio of 0.40 and a beta of 1.56. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $191.85. The business's fifty day simple moving average is $134.89 and its 200-day simple moving average is $110.70.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. 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 dividend payout ratio (DPR) is presently 6.06%.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. Bank of America raised their target price on Micron Technology from $140.00 to $180.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Wall Street Zen cut Micron Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday. KeyCorp raised their target price on Micron Technology from $160.00 to $215.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, Robert W. Baird raised 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. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target 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.

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