Comprehensive Financial Consultants Institutional Inc. Buys New Shares in Micron Technology, Inc. $MU

Key Points

• Comprehensive Financial Consultants Institutional Inc. acquired 1,652 shares of Micron Technology, Inc. valued at approximately $204,000, highlighting significant institutional interest in the semiconductor stock during Q2.
• Micron Technology announced a quarterly dividend of $0.115 per share, with a yield of 0.2%, scheduled for payment on October 21st to shareholders of record on October 3rd.
• Analysts have raised their price targets for Micron, with updates suggesting objectives as high as $200, reflecting a consensus rating of "Buy" among industry experts.

Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,652 shares of the semiconductor manufacturer's stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC raised its stake 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 buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the 1st quarter worth approximately $36,000. Hilltop National Bank bought a new position in Micron Technology in the second quarter worth approximately $37,000. Finally, Saudi Central Bank acquired a new stake in Micron Technology in the first quarter valued at approximately $38,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 1.7%

MU opened at $190.96 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $201.00. The firm has a market capitalization of $213.71 billion, a P/E ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56. The company's 50-day moving average is $136.49 and its 200 day moving average is $111.49. 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 Announces Dividend

The company also recently announced 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 dividend yield of 0.2%. Micron Technology's dividend payout ratio (DPR) is currently 6.06%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Summit Insights raised Micron Technology to a "strong-buy" rating in a research report on Tuesday, September 23rd. Cantor Fitzgerald upped their price objective 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. Wolfe Research raised their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Raymond James Financial boosted their target price on shares of Micron Technology from $150.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Finally, Robert W. Baird raised their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Buy" and an average target price of $187.08.

Insider Transactions at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares of the company's stock, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 owned 131,580 shares in the company, valued at $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,456 shares of company stock worth $15,698,445. 0.30% of the stock is owned by insiders.

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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