Micron Technology, Inc. $MU Shares Bought by Ameliora Wealth Management Ltd.

Key Points

• Ameliora Wealth Management Ltd. increased its holdings in Micron Technology, Inc. by 279.7% in Q2, now owning 7,636 shares valued at approximately $941,000.
• Micron Technology has announced a quarterly dividend of $0.115 per share, payable on October 21st, which reflects an annualized yield of 0.2%.
• Several analysts have raised their price targets for Micron Technology, with estimates now ranging from $180 to $200, indicating strong investor confidence.

Ameliora Wealth Management Ltd. grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 279.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,636 shares of the semiconductor manufacturer's stock after acquiring an additional 5,625 shares during the quarter. Ameliora Wealth Management Ltd.'s holdings in Micron Technology were worth $941,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC raised its stake in shares of 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 purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Micron Technology during the first quarter worth about $36,000. Hilltop National Bank purchased a new stake in Micron Technology in the second quarter valued at approximately $37,000. Finally, Saudi Central Bank purchased a new stake in Micron Technology in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 1.7%

MU stock opened at $190.96 on Tuesday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $201.00. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $136.49 and a 200-day simple moving average of $111.49. The stock has a market capitalization of $213.71 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.41 and a beta of 1.56.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology's dividend payout ratio is presently 6.06%.

Analysts Set New Price Targets

Several analysts have commented on MU shares. Piper Sandler lifted their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. TD Cowen raised their target price on shares of Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Raymond James Financial boosted their price objective on Micron Technology from $150.00 to $190.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, Needham & Company LLC lifted their price target 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 analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $187.08.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction 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 transaction, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares of the company's stock, 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. Over the last 90 days, insiders have sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is owned by corporate insiders.

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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