Micron Technology, Inc. $MU Shares Bought by US Bancorp DE

US Bancorp DE raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 926,355 shares of the semiconductor manufacturer's stock after acquiring an additional 35,503 shares during the quarter. US Bancorp DE owned approximately 0.08% of Micron Technology worth $114,173,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the 1st quarter valued at about $33,000. AllSquare Wealth Management LLC grew its position in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology in the 1st quarter valued at about $36,000. Hilltop National Bank acquired a new position in Micron Technology in the 2nd quarter valued at about $37,000. Finally, Saudi Central Bank acquired a new position in Micron Technology in the 1st quarter valued at about $38,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU stock opened at $196.54 on Thursday. The business has a 50 day moving average price of $139.60 and a 200 day moving average price of $112.59. The stock has a market cap of $220.61 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two 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.

Micron Technology Announces Dividend

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

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,956 shares of company stock worth $22,841,025. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MU shares. Erste Group Bank started coverage on Micron Technology in a research note on Thursday, August 14th. They issued a "buy" rating for the company. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $185.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Zacks Research upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Robert W. Baird lifted their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Finally, Stifel Nicolaus lifted their price objective on Micron Technology from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $190.48.

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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