Micron Technology, Inc. $MU Shares Sold by Global Assets Advisory LLC

Key Points

• Global Assets Advisory LLC reduced its ownership in Micron Technology by 52.5%, now holding 2,308 shares valued at approximately $279,000.
• The company recently announced a quarterly dividend of $0.115 per share, with an annualized yield of 0.2%, to be paid on October 21st.
• Multiple analysts have upgraded their ratings for Micron Technology, with a consensus price target of $187.08 after several institutions raised their target prices considerably.

Global Assets Advisory LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 52.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,308 shares of the semiconductor manufacturer's stock after selling 2,556 shares during the quarter. Global Assets Advisory LLC's holdings in Micron Technology were worth $279,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mission Wealth Management LP lifted its holdings in shares of Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after acquiring an additional 10,348 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new position in shares of Micron Technology during the first quarter worth about $228,000. Clarius Group LLC lifted its stake in shares of Micron Technology by 57.9% during the first quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer's stock worth $1,237,000 after purchasing an additional 5,220 shares in the last quarter. Kera Capital Partners Inc. purchased a new stake in shares of Micron Technology in the second quarter worth about $211,000. Finally, Petredis Investment Advisors LLC grew its stake in shares of Micron Technology by 108.2% in the first quarter. Petredis Investment Advisors LLC now owns 79,799 shares of the semiconductor manufacturer's stock valued at $6,934,000 after buying an additional 41,468 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 1.7%

Shares of NASDAQ MU opened at $190.96 on Tuesday. 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 stock's 50 day moving average price is $136.49 and its two-hundred day moving average price is $111.49. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $201.00. The stock has a market capitalization of $213.71 billion, a P/E ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors 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 annualized dividend and a yield of 0.2%. Micron Technology's dividend payout ratio (DPR) is 6.06%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the 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 $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. 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 quarter. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

MU has been the subject of a number of analyst reports. Zacks Research upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. CLSA assumed coverage on shares of Micron Technology in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 target price for the company. Erste Group Bank assumed coverage on shares of Micron Technology in a research note on Thursday, August 14th. They set a "buy" rating on the stock. Citigroup boosted their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Morgan Stanley upgraded Micron Technology from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $160.00 to $220.00 in a research note on Monday. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $187.08.

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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