Micron Technology, Inc. $MU Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its holdings in Micron Technology, Inc. by 10.6%, owning 262,753 shares valued at approximately $32.38 million as of the latest SEC filing.
• Multiple brokerages have raised their price targets for Micron Technology, with some suggesting a price target of $200, reflecting a strong bullish sentiment among analysts.
• Insider selling was noted, with Director Mary Pat Mccarthy and Richard M. Beyer selling shares, leading to a significant but minor overall decrease in insider ownership.

Janney Montgomery Scott LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 262,753 shares of the semiconductor manufacturer's stock after acquiring an additional 25,102 shares during the quarter. Janney Montgomery Scott LLC's holdings in Micron Technology were worth $32,384,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HMS Capital Management LLC boosted its holdings in shares of Micron Technology by 0.6% in the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer's stock valued at $2,375,000 after acquiring an additional 107 shares during the period. D.B. Root & Company LLC boosted its holdings in shares of Micron Technology by 3.7% in the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after acquiring an additional 108 shares during the period. Werlinich Asset Management LLC boosted its holdings in shares of Micron Technology by 1.1% in the second quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer's stock valued at $1,317,000 after acquiring an additional 115 shares during the period. Rise Advisors LLC boosted its holdings in shares of Micron Technology by 5.3% in the first quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer's stock valued at $206,000 after acquiring an additional 120 shares during the period. Finally, Orca Wealth Management LLC boosted its holdings in shares of Micron Technology by 1.5% in the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock valued at $737,000 after acquiring an additional 129 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the director owned 20,146 shares in the company, valued at $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director owned 96,031 shares of the company's stock, valued at approximately $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,456 shares of company stock worth $10,524,945. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on MU. Summit Insights raised Micron Technology to a "strong-buy" rating in a report on Tuesday, September 23rd. Susquehanna increased their price target on Micron Technology from $160.00 to $200.00 and gave the stock a "positive" rating in a report on Wednesday, September 17th. Stifel Nicolaus increased their price target on Micron Technology from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Needham & Company LLC increased their price target on Micron Technology from $150.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Micron Technology currently has an average rating of "Buy" and a consensus target price of $184.77.

Micron Technology Trading Up 8.9%

NASDAQ:MU opened at $182.15 on Thursday. The stock has a fifty day moving average price of $131.92 and a two-hundred day moving average price of $109.55. The stock has a market capitalization of $203.85 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 0.37 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $182.39.

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 given a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's dividend 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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