TBH Global Asset Management LLC Invests $341,000 in Micron Technology, Inc. $MU

Key Points

• TBH Global Asset Management invested approximately $341,000 in Micron Technology, acquiring 2,765 shares in the second quarter.
• Several institutional investors have also increased their stakes in Micron, with a substantial ownership by these investors now at 80.84%.
• Micron Technology announced a quarterly dividend of $0.115 per share, with an annualized payout representing a yield of 0.3%.

TBH Global Asset Management LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,765 shares of the semiconductor manufacturer's stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter worth approximately $33,000. Roxbury Financial LLC grew its position in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. AllSquare Wealth Management LLC increased its position in 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 buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in Micron Technology during the first quarter worth $36,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Micron Technology by 240.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director owned 20,146 shares of the company's stock, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 13,798 shares of the firm's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the sale, the chief executive officer owned 325,148 shares in the company, valued at $52,739,005.60. The trade was a 4.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,308 shares of company stock worth $9,952,167 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. CLSA assumed coverage on Micron Technology in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target on the stock. Zacks Research raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Bank of America upped their price objective on shares of Micron Technology from $140.00 to $180.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Mizuho lifted their target price on Micron Technology from $182.00 to $195.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Finally, Robert W. Baird boosted their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $184.77.

Micron Technology Stock Performance

NASDAQ:MU opened at $157.27 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The company has a 50 day simple moving average of $128.30 and a two-hundred day simple moving average of $108.20. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $170.45. The company has a market capitalization of $176.00 billion, a PE ratio of 20.72, a P/E/G ratio of 0.35 and a beta of 1.47.

Micron Technology Announces Dividend

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

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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