SGL Investment Advisors Inc. Acquires New Stake in Micron Technology, Inc. $MU

Key Points

• SGL Investment Advisors Inc. acquired a new stake in Micron Technology, purchasing 2,824 shares valued at approximately $351,000.
• Insider activity included CFO Mark J. Murphy selling 34,000 shares, representing an 11.41% decrease in ownership, while a director sold various shares, impacting ownership levels.
• Micron Technology declared a quarterly dividend of $0.115 per share, resulting in an annualized yield of 0.2% for investors of record on October 3rd.

SGL Investment Advisors Inc. bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,824 shares of the semiconductor manufacturer's stock, valued at approximately $351,000.

Several other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology in the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC grew 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 acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology during the first quarter worth $36,000. Hilltop National Bank purchased a new stake in shares of Micron Technology during the second quarter worth $37,000. Finally, Saudi Central Bank acquired a new stake in shares of Micron Technology in the first quarter valued at $38,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction that occurred 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the firm'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 transaction, the director owned 96,031 shares in the company, valued at approximately $14,950,106.08. This trade represents a 5.47% 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 90 days. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

NASDAQ MU opened at $190.96 on Tuesday. The company has a fifty day moving average of $136.49 and a two-hundred day moving average of $111.49. The company has a market capitalization of $213.71 billion, a PE ratio of 25.16, a P/E/G ratio of 0.41 and a beta of 1.56. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $201.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

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 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 is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is currently 6.06%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MU shares. Wall Street Zen downgraded Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday. Bank of America boosted their price objective on Micron Technology from $140.00 to $180.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Morgan Stanley raised shares of 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 report on Monday. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, TD Cowen raised their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a report on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company 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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