Slow Capital Inc. Increases Holdings in Micron Technology, Inc. $MU

Key Points

• Slow Capital Inc. has increased its stake in Micron Technology by 6.2%, owning 44,252 shares valued at $5,454,000.
• Micron Technology recently announced a quarterly dividend of $0.115, with an ex-dividend date of Friday, October 3rd, yielding 0.2% annually.
• Several analysts have raised their price targets on Micron, with Morgan Stanley setting a target of $220.00, indicating strong investor confidence.

Slow Capital Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,252 shares of the semiconductor manufacturer's stock after purchasing an additional 2,596 shares during the quarter. Slow Capital Inc.'s holdings in Micron Technology were worth $5,454,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after acquiring an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after acquiring an additional 58,285 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after acquiring an additional 1,416,174 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after acquiring an additional 17,970 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 1.7%

Shares of NASDAQ MU opened at $190.96 on Tuesday. 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, Inc. has a one year low of $61.54 and a one year high of $201.00. The firm's 50 day simple moving average is $136.49 and its two-hundred day simple moving average is $111.49. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a $0.115 dividend. 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 presently 6.06%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of Micron Technology from $173.00 to $195.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Wolfe Research lifted their price objective on Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Morgan Stanley upgraded Micron Technology from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $160.00 to $220.00 in a research report on Monday. CLSA assumed coverage on Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Micron Technology in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $187.08.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the transaction, 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 109,456 shares of company stock worth $15,698,445 over the last 90 days. Insiders own 0.30% of the company's stock.

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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