Five Oceans Advisors Acquires Shares of 1,730 Micron Technology, Inc. $MU

Key Points

• Five Oceans Advisors acquired 1,730 shares of Micron Technology, valued at approximately $213,000, as indicated in their recent SEC filing.
• A number of analysts recently increased their price targets for Micron Technology, with Susquehanna raising it to $200.00 and KeyCorp to $215.00, indicating a generally positive outlook for the stock.
• Micron Technology announced a quarterly dividend of $0.115 per share, with the payment date set for October 21st, reflecting a 0.3% yield on an annualized basis.

Five Oceans Advisors acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,730 shares of the semiconductor manufacturer's stock, valued at approximately $213,000.

Other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the first quarter valued at about $33,000. AllSquare Wealth Management LLC boosted its stake in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology during the 1st quarter valued at about $36,000. Roxbury Financial LLC boosted its stake in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in shares of 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 purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MU shares. Susquehanna lifted their target price on shares of Micron Technology from $160.00 to $200.00 and gave the company a "positive" rating in a research note on Wednesday, September 17th. Morgan Stanley lifted their target price on shares of Micron Technology from $135.00 to $160.00 and gave the company an "equal weight" rating in a research note on Monday. The Goldman Sachs Group lifted their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a "neutral" rating in a research note on Wednesday. KeyCorp lifted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, KGI Securities raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $184.77.

Insider Activity

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The shares were 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 approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the transaction, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,308 shares of company stock valued at $19,804,967 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 3.0%

NASDAQ:MU opened at $156.83 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.89. The firm has a market capitalization of $175.51 billion, a P/E ratio of 20.66 and a beta of 1.47. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. The company's 50-day simple moving average is $127.44 and its 200 day simple moving average is $107.55.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

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 issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's payout ratio is 8.29%.

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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