Hansen & Associates Financial Group Inc. Makes New Investment in Micron Technology, Inc. $MU

Key Points

• Hansen & Associates Financial Group Inc. has invested approximately $1.1 million in Micron Technology, Inc., acquiring 8,875 shares, which makes up 0.6% of their investment portfolio.
• Wall Street analysts are optimistic about Micron, with several increasing their price targets; Wolfe Research set $180, while Rosenblatt Securities boosted it to $250.
• Micron Technology has declared a quarterly dividend of $0.115 per share, set to be paid on October 21st, reflecting a 0.3% dividend yield.

Hansen & Associates Financial Group Inc. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,875 shares of the semiconductor manufacturer's stock, valued at approximately $1,107,000. Micron Technology accounts for 0.6% of Hansen & Associates Financial Group Inc.'s investment portfolio, making the stock its 15th biggest position.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. increased its holdings in Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Micron Technology by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock worth $602,917,000 after purchasing an additional 58,285 shares during the period. Dimensional Fund Advisors LP increased its holdings in Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after purchasing an additional 17,970 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares of the company's stock, valued at $2,330,287.82. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 13,798 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The shares were 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 of the company's stock, valued at $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,456 shares of company stock valued at $10,524,945 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MU. Wolfe Research increased their price objective on Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Susquehanna increased their price objective on Micron Technology from $160.00 to $200.00 and gave the company a "positive" rating in a report on Wednesday, September 17th. Rosenblatt Securities increased their price objective on Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Cantor Fitzgerald increased their price objective on Micron Technology from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Finally, KGI Securities upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $184.77.

Micron Technology Stock Up 4.2%

MU opened at $163.90 on Tuesday. 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 business has a 50 day simple moving average of $129.31 and a 200-day simple moving average of $108.64. The stock has a market capitalization of $183.42 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.35 and a beta of 1.47. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45.

Micron Technology Announces Dividend

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

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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