Midwest Financial Group LLC Increases Stock Holdings in Micron Technology, Inc. $MU

Midwest Financial Group LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.9% in the 2nd quarter, according to the company in its most recent 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 makes up about 1.5% of Midwest Financial Group LLC’s portfolio, making the stock its 19th biggest holding. Midwest Financial Group LLC’s holdings in Micron Technology were worth $2,822,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $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 worth $35,000 after buying an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the 1st quarter worth approximately $36,000. Harbor Investment Advisory LLC lifted its position 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 valued at $37,000 after acquiring an additional 300 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in shares of Micron Technology in the first quarter valued at approximately $38,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction 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 sale, the director directly 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,456 shares of company stock valued at $10,524,945. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $167.39 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The firm’s 50-day moving average is $130.47 and its two-hundred day moving average is $109.05. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45. The company has a market capitalization of $187.33 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.36 and a beta of 1.47.

Micron Technology Announces Dividend

The company 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. 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 presently 6.06%.

Analysts Set New Price Targets

Several brokerages recently commented on MU. Citigroup boosted their price target on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 26th. Cantor Fitzgerald raised their price target on shares of Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Bank of America boosted their price target on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Needham & Company LLC increased their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Buy” and an average target price of $184.77.

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.