Boston Common Asset Management LLC Sells 107,217 Shares of Micron Technology, Inc. $MU

Key Points

• Boston Common Asset Management LLC significantly reduced its stake in Micron Technology, selling 107,217 shares and owning 70,973 shares at the end of the 2nd quarter, valued at approximately $8.7 million.
• Micron's CEO, Sanjay Mehrotra, and Director, Richard M. Beyer, have both sold shares recently, marking decreases in their respective holdings of 4.61% and 5.47%.
• Several analysts have raised their target prices for Micron Technology, with estimates ranging from $145 to $220, reflecting a generally optimistic outlook for the company's stock.

Boston Common Asset Management LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 60.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,973 shares of the semiconductor manufacturer's stock after selling 107,217 shares during the period. Boston Common Asset Management LLC's holdings in Micron Technology were worth $8,747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Micron Technology during the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC increased its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology during the 1st quarter worth approximately $36,000. Hilltop National Bank bought a new stake in Micron Technology during the 2nd quarter worth approximately $37,000. Finally, Saudi Central Bank bought a new stake in Micron Technology during the 1st quarter worth approximately $38,000. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 15,000 shares of the company's 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 of the company's stock, valued at approximately $56,093,367.28. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director directly owned 96,031 shares of the company's stock, valued at $14,950,106.08. This trade represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,456 shares of company stock worth $15,698,445 over the last 90 days. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Cantor Fitzgerald upped their target price on shares of Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Robert W. Baird upped their target price on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $185.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Finally, Arete Research raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $184.77.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $187.83 on Friday. The company's fifty day moving average price is $134.89 and its 200-day moving average price is $110.76. The firm has a market capitalization of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $191.85. 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 firm 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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology's dividend payout ratio is 6.06%.

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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