Kercheville Advisors LLC Has $2.13 Million Holdings in Micron Technology, Inc. $MU

Key Points

• Kercheville Advisors LLC increased its holdings in Micron Technology, Inc. by 52.1% in the second quarter, valuing the investment at $2.13 million with a total of 17,301 shares acquired.
• Multiple institutional investors have significantly increased their stakes, with a combined ownership of 80.84% of Micron's stock, indicating strong institutional confidence in the company.
• Analysts have set optimistic price targets for Micron Technology, with several ratings upgraded to "overweight" and targets ranging from $155.00 to $200.00, suggesting potential for future growth.

Kercheville Advisors LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 52.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,301 shares of the semiconductor manufacturer's stock after acquiring an additional 5,926 shares during the quarter. Kercheville Advisors LLC's holdings in Micron Technology were worth $2,132,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MU. Mission Wealth Management LP lifted its holdings in shares of Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after buying an additional 10,348 shares during the last quarter. TB Alternative Assets Ltd. lifted its holdings in shares of Micron Technology by 331.3% during the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer's stock valued at $6,933,000 after buying an additional 61,288 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of Micron Technology during the 1st quarter valued at about $228,000. Clarius Group LLC lifted its holdings in shares of Micron Technology by 57.9% during the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer's stock valued at $1,237,000 after buying an additional 5,220 shares during the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Micron Technology during the 2nd quarter valued at about $211,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. CLSA initiated coverage on Micron Technology in a report on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price target for the company. Cantor Fitzgerald lifted their price target on Micron Technology from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Stifel Nicolaus boosted their target price on Micron Technology from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Barclays boosted their target price on Micron Technology from $140.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Finally, The Goldman Sachs Group boosted their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $184.77.

Micron Technology Price Performance

Micron Technology stock opened at $187.83 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The firm has a market cap of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.41 and a beta of 1.56. The business's fifty day moving average is $134.89 and its two-hundred day moving average is $110.76. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $191.85.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders 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 yield of 0.2%. Micron Technology's payout ratio is currently 6.06%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was 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 of the company's stock, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer directly owned 310,148 shares in the company, valued at $56,093,367.28. This trade represents a 4.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,456 shares of company stock valued at $15,698,445. Insiders own 0.30% of the company's stock.

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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