Micron Technology, Inc. $MU is Bourgeon Capital Management LLC's 10th Largest Position

Key Points

• Bourgeon Capital Management LLC has increased its stake in Micron Technology by 3.8%, now holding approximately 107,923 shares, making it the firm's 10th largest position, valued at $13.3 million.
• Several analysts have raised their price targets for Micron Technology to $200, with a consensus rating of "Buy," indicating strong confidence in the company's future performance.
• Micron Technology recently declared a quarterly dividend of $0.115 per share, with a payout ratio of 6.06%, highlighting its ongoing commitment to returning value to shareholders.

Bourgeon Capital Management LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,923 shares of the semiconductor manufacturer's stock after purchasing an additional 3,952 shares during the quarter. Micron Technology accounts for approximately 2.6% of Bourgeon Capital Management LLC's investment portfolio, making the stock its 10th largest position. Bourgeon Capital Management LLC's holdings in Micron Technology were worth $13,302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the first quarter valued at $33,000. AllSquare Wealth Management LLC lifted its position in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology in the first quarter worth $36,000. Roxbury Financial LLC lifted its position in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the sale, the director owned 96,031 shares in the company, valued at $14,950,106.08. The trade was a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,456 shares of company stock worth $10,524,945 over the last ninety days. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup raised their price target on Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Robert W. Baird raised their price target on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft raised their price target on Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. CLSA started coverage on Micron Technology in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target for the company. Finally, Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given 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 price target of $184.77.

Micron Technology Price Performance

MU opened at $163.90 on Tuesday. The business's 50-day moving average is $129.31 and its two-hundred day moving average is $108.64. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $170.45. 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 firm has a market capitalization of $183.42 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.35 and a beta of 1.47.

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 paid a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. Micron Technology's payout ratio is presently 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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