Hudson Value Partners LLC Makes New $690,000 Investment in Micron Technology, Inc. $MU

Key Points

• Hudson Value Partners LLC invested $690,000 in Micron Technology by acquiring 5,595 shares during the second quarter, emphasizing continued institutional interest in the semiconductor firm.
• Micron Technology declared a quarterly dividend of $0.115 per share, set to be paid on October 21st, reflecting a modest annual yield of 0.3%.
• Analysts have increased their price targets for Micron, with Bank of America raising theirs from $140 to $180, while Deutsche Bank set a target of $200, indicating strong market confidence in the company's performance.

Hudson Value Partners LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,595 shares of the semiconductor manufacturer's stock, valued at approximately $690,000.

A number of other institutional investors have also added to or reduced their stakes in the business. New Wave Wealth Advisors LLC bought a new position in Micron Technology in the 2nd quarter worth about $230,000. NRI Wealth Management LC increased its stake in Micron Technology by 4.9% in the 2nd quarter. NRI Wealth Management LC now owns 13,339 shares of the semiconductor manufacturer's stock worth $1,644,000 after acquiring an additional 621 shares during the last quarter. B.O.S.S. Retirement Advisors LLC bought a new position in Micron Technology in the 2nd quarter worth about $238,000. Dogwood Wealth Management LLC increased its stake in Micron Technology by 259.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 356 shares of the semiconductor manufacturer's stock worth $44,000 after acquiring an additional 257 shares during the last quarter. Finally, Trilogy Capital Inc. bought a new position in Micron Technology in the 2nd quarter worth about $220,000. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 13,798 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the transaction, the chief executive officer directly owned 325,148 shares in the company, valued at $52,739,005.60. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director owned 96,031 shares in the company, valued at approximately $14,950,106.08. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,456 shares of company stock valued at $10,524,945 in the last 90 days. 0.30% of the stock is owned by insiders.

Micron Technology Price Performance

MU opened at $182.15 on Thursday. The stock's 50 day simple moving average is $131.92 and its 200 day simple moving average is $109.55. 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, Inc. has a 1 year low of $61.54 and a 1 year high of $182.39. The firm has a market cap of $203.85 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 0.37 and a beta of 1.56.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

MU has been the topic of several recent research reports. Bank of America increased their price objective on Micron Technology from $140.00 to $180.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft increased 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. Summit Insights upgraded Micron Technology to a "strong-buy" rating in a research report on Tuesday, September 23rd. Finally, Needham & Company LLC increased their price objective on Micron Technology from $150.00 to $200.00 and gave the company a "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 assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of "Buy" and an average price target of $184.77.

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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