BOS Asset Management LLC Acquires New Holdings in Micron Technology, Inc. $MU

BOS Asset Management LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,709 shares of the semiconductor manufacturer’s stock, valued at approximately $580,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after purchasing an additional 976 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Micron Technology by 6.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 38,002 shares of the semiconductor manufacturer’s stock worth $3,198,000 after acquiring an additional 2,264 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Micron Technology by 10.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 350,612 shares of the semiconductor manufacturer’s stock worth $29,507,000 after purchasing an additional 32,502 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Micron Technology by 5.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 4,029 shares of the semiconductor manufacturer’s stock worth $350,000 after purchasing an additional 219 shares during the last quarter. Finally, Centre Asset Management LLC bought a new position in Micron Technology in the first quarter valued at $7,720,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 3.0%

Shares of MU opened at $156.83 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45. The firm’s 50 day moving average is $127.44 and its 200-day moving average is $107.55. The stock has a market capitalization of $175.51 billion, a PE ratio of 20.66 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.During the same quarter in the prior year, the business posted $0.62 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors 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 yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s payout ratio is 8.29%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 13,798 shares of the 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 sale, the chief executive officer directly owned 325,148 shares in the company, valued at $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,308 shares of company stock worth $19,804,967. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MU shares. Deutsche Bank Aktiengesellschaft increased their price target on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday. Mizuho upped their target price on shares of Micron Technology from $182.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday. Cantor Fitzgerald lifted their price target on Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wolfe Research upped 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. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average price target of $184.77.

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.