Highland Capital Management LLC Has $22.28 Million Stake in Micron Technology, Inc. $MU

Highland Capital Management LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,750 shares of the semiconductor manufacturer’s stock after selling 955 shares during the quarter. Micron Technology accounts for 1.2% of Highland Capital Management LLC’s portfolio, making the stock its 15th largest position. Highland Capital Management LLC’s holdings in Micron Technology were worth $22,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Micron Technology during the 1st quarter valued at about $33,000. AllSquare Wealth Management LLC increased its holdings in shares of Micron Technology by 100.0% during the first 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. bought a new position in shares of Micron Technology in the first quarter valued at approximately $36,000. Hilltop National Bank acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $37,000. Finally, Saudi Central Bank bought a new stake in Micron Technology during the 1st quarter worth approximately $38,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 2.2%

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology’s payout ratio is currently 6.06%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the transaction, the chief executive officer directly owned 310,148 shares in the company, valued at approximately $56,093,367.28. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,456 shares of company stock valued at $15,698,445. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. Arete Research raised Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. Cantor Fitzgerald upped their price target on shares of Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Wolfe Research raised their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Stifel Nicolaus boosted their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Needham & Company LLC increased their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate 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.