SWS Partners Grows Holdings in Micron Technology, Inc. $MU

Key Points

• SWS Partners increased its holdings in Micron Technology by 26.1% during the second quarter, bringing their total shares to 27,158, valued at approximately $3.35 million.
• Analysts have issued a positive outlook for Micron Technology, with several upgrades and a target price increase to $200 from $175, leading to a consensus rating of "Buy".
• Micron Technology announced a quarterly dividend of $0.115 per share set to be paid on October 21st, reflecting a 0.3% dividend yield.

SWS Partners lifted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 26.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,158 shares of the semiconductor manufacturer's stock after buying an additional 5,629 shares during the quarter. SWS Partners' holdings in Micron Technology were worth $3,347,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. HMS Capital Management LLC boosted its stake in Micron Technology by 0.6% in the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer's stock worth $2,375,000 after purchasing an additional 107 shares in the last quarter. D.B. Root & Company LLC boosted its stake in Micron Technology by 3.7% in the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock worth $262,000 after purchasing an additional 108 shares in the last quarter. Werlinich Asset Management LLC boosted its stake in Micron Technology by 1.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer's stock worth $1,317,000 after purchasing an additional 115 shares in the last quarter. Rise Advisors LLC boosted its stake in Micron Technology by 5.3% in the 1st quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer's stock worth $206,000 after purchasing an additional 120 shares in the last quarter. Finally, Orca Wealth Management LLC boosted its stake in Micron Technology by 1.5% in the 1st quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock worth $737,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Summit Insights upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Tuesday, September 23rd. Citigroup upped their target price on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Piper Sandler upped their target price on shares of Micron Technology from $165.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a "neutral" rating in a research note 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $184.77.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 13,798 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the sale, the chief executive officer owned 325,148 shares of the company's stock, valued at $52,739,005.60. This represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director directly owned 20,146 shares of the company's stock, valued at $2,330,287.82. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,308 shares of company stock valued at $9,952,167 in the last quarter. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

NASDAQ MU opened at $157.27 on Monday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $170.45. The firm has a market capitalization of $176.00 billion, a P/E ratio of 20.72, a PEG ratio of 0.35 and a beta of 1.47. 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 company has a 50-day moving average price of $128.30 and a 200-day moving average price of $108.20.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio is presently 6.06%.

Micron Technology Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.