Micron Technology, Inc. $MU Shares Bought by Midwest Financial Group LLC

Midwest Financial Group LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,900 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,070 shares during the quarter. Micron Technology accounts for approximately 1.5% of Midwest Financial Group LLC’s holdings, making the stock its 19th largest holding. Midwest Financial Group LLC’s holdings in Micron Technology were worth $2,822,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MU. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the 1st quarter valued at approximately $33,000. AllSquare Wealth Management LLC increased its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the 1st quarter valued at approximately $36,000. Harbor Investment Advisory LLC raised its holdings in shares of Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after buying an additional 300 shares during the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of Micron Technology during the first quarter worth $38,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Piper Sandler boosted their price target on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Wells Fargo & Company raised their price objective on Micron Technology from $170.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. UBS Group lifted their target price on Micron Technology from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Bank of America increased their price target on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $184.77.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on 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 approximately $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 13,798 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 325,148 shares in the company, valued at approximately $52,739,005.60. This represents a 4.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,456 shares of company stock valued at $10,524,945. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Up 2.1%

Shares of MU stock opened at $167.39 on Wednesday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $170.45. The stock has a market cap of $187.33 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.36 and a beta of 1.47. The stock has a 50 day moving average of $130.47 and a 200 day moving average of $109.05. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Micron Technology Announces Dividend

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

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.