Kercheville Advisors LLC Buys 5,926 Shares of Micron Technology, Inc. $MU

Kercheville Advisors LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 52.1% in the second quarter, HoldingsChannel reports. The firm owned 17,301 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,926 shares during the period. Kercheville Advisors LLC’s holdings in Micron Technology were worth $2,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MU. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the first quarter valued at about $33,000. AllSquare Wealth Management LLC increased its holdings 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. bought a new stake in shares of Micron Technology in the first quarter worth about $36,000. Hilltop National Bank bought a new stake in shares of Micron Technology in the second quarter worth about $37,000. Finally, Saudi Central Bank bought a new stake in shares of Micron Technology in the first quarter worth about $38,000. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares of the company’s stock, valued at $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 SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 109,456 shares of company stock valued at $15,698,445. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Micron Technology from $185.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Zacks Research upgraded Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. KeyCorp increased their price target on Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Wedbush increased their price target on Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Stifel Nicolaus increased their price target on Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.77.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $187.83 on Friday. The stock has a 50 day moving average price of $134.89 and a 200 day moving average price of $110.76. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $191.85. 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 stock has a market capitalization of $210.20 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) 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.