Knights of Columbus Asset Advisors LLC Acquires 9,119 Shares of Micron Technology, Inc. $MU

Key Points

• Knights of Columbus Asset Advisors LLC increased its holdings in Micron Technology by 59.4% during the 2nd quarter, acquiring 9,119 shares to own a total of 24,464 shares valued at approximately $3,015,000.
• CEO Sanjay Mehrotra sold 15,000 shares on October 1st at an average price of $180.86, reducing his holdings by 4.61% to 310,148 shares.
• Analysts have raised their price targets for Micron Technology, with Citigroup setting a target of $200.00 and KeyCorp raising it to $215.00, reflecting strong optimism around the stock.

Knights of Columbus Asset Advisors LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 59.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,464 shares of the semiconductor manufacturer's stock after purchasing an additional 9,119 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Micron Technology were worth $3,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Micron Technology during the 2nd quarter valued at about $37,000. Dogwood Wealth Management LLC lifted its stake in shares of Micron Technology by 259.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 356 shares of the semiconductor manufacturer's stock valued at $44,000 after purchasing an additional 257 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC increased its position 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 during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the 1st quarter valued at $36,000. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction that occurred 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 owned 310,148 shares of the company's stock, valued at $56,093,367.28. The trade was a 4.61% decrease in their position. 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 business'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 transaction of $278,070.68. Following the transaction, the director owned 20,146 shares of the company's stock, 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 have sold a total of 109,456 shares of company stock valued at $15,698,445 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Barclays upped their price target on shares of Micron Technology from $140.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, September 19th. KeyCorp boosted their target price on Micron Technology from $160.00 to $215.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Bank of America increased their price target on Micron Technology from $140.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Finally, Rosenblatt Securities boosted 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. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of "Buy" and a consensus target price of $187.08.

Micron Technology Stock Performance

Shares of MU stock opened at $190.96 on Tuesday. The firm has a market cap of $213.71 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $201.00. The company's 50 day moving average is $136.49 and its 200 day moving average is $111.49.

Micron Technology Dividend Announcement

The company also recently declared 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. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's dividend payout ratio is presently 6.06%.

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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