B.O.S.S. Retirement Advisors LLC Invests $238,000 in Micron Technology, Inc. $MU

Key Points

• B.O.S.S. Retirement Advisors LLC invested approximately $238,000 in Micron Technology, acquiring 1,930 shares during the 2nd quarter.
• Insider selling activity is notable, with CEO Sanjay Mehrotra selling over 13,798 shares recently, resulting in a 4.07% decrease in his ownership.
• Analysts have increased price targets for Micron Technology, with Barclays raising its target to $175.00 and Goldman Sachs to $145.00, reflecting a bullish outlook.

B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,930 shares of the semiconductor manufacturer's stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the period. Harbor Investment Advisory LLC raised its holdings in Micron Technology by 240.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the period. Merit Financial Group LLC raised its holdings in Micron Technology by 22.6% during the 1st quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer's stock valued at $1,692,000 after buying an additional 3,593 shares during the period. HBW Advisory Services LLC purchased a new stake in Micron Technology during the 1st quarter valued at $281,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Micron Technology by 48.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,965 shares of the semiconductor manufacturer's stock valued at $1,127,000 after buying an additional 4,226 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 0.9%

Shares of NASDAQ MU opened at $183.75 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The stock has a market capitalization of $205.64 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 0.40 and a beta of 1.56. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $186.18. The business has a fifty day moving average price of $133.36 and a 200 day moving average price of $110.11.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is 6.06%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 13,798 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $162.20, for a total value of $2,238,035.60. Following the completion of the sale, the chief executive officer directly owned 325,148 shares in the company, valued at approximately $52,739,005.60. This trade represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the 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 sale, the director owned 96,031 shares of the company's stock, valued at approximately $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,456 shares of company stock valued at $12,985,545 in the last 90 days. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays increased 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. The Goldman Sachs Group upped their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Robert W. Baird upped their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Citigroup upped their price objective on Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Finally, KGI Securities raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $184.77.

Micron Technology Company 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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