Robeco Institutional Asset Management B.V. Acquires 38,025 Shares of Micron Technology, Inc. $MU

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Micron Technology, Inc. by 32.5% in the second quarter, now owning 154,849 shares worth approximately $19.08 million.
• CEO Sanjay Mehrotra sold 15,000 shares of Micron stock for around $2.71 million, reducing his ownership by 4.61%.
• Micron's stock is currently valued at $187.83, with analysts maintaining a consensus target price of $184.77 and a mix of ratings including four Strong Buy recommendations.

Robeco Institutional Asset Management B.V. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 32.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,849 shares of the semiconductor manufacturer's stock after purchasing an additional 38,025 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Micron Technology were worth $19,085,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MU. Dogwood Wealth Management LLC boosted its holdings in Micron Technology by 259.6% in the second quarter. Dogwood Wealth Management LLC now owns 356 shares of the semiconductor manufacturer's stock valued at $44,000 after acquiring an additional 257 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Micron Technology in the 1st quarter worth $33,000. AllSquare Wealth Management LLC lifted its position in shares of Micron Technology by 100.0% in the 1st 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 period. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology during the 1st quarter valued at about $36,000. Finally, Saudi Central Bank purchased a new position in shares of Micron Technology during the first quarter valued at about $38,000. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the transaction, the chief executive officer directly owned 310,148 shares of the company's stock, valued at approximately $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 96,031 shares in the company, 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 90 days, insiders sold 109,456 shares of company stock valued at $15,698,445. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Up 2.2%

Shares of NASDAQ:MU opened at $187.83 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $134.89 and a two-hundred day simple moving average of $110.76. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $191.85. The stock has a market capitalization of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56.

Micron Technology Dividend Announcement

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

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Micron Technology in a report on Saturday, September 27th. Summit Insights raised Micron Technology to a "strong-buy" rating in a research report on Tuesday, September 23rd. Wedbush lifted their price target on Micron Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Wells Fargo & Company upped their price target on Micron Technology from $170.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Finally, Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $184.77.

About Micron Technology

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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