KPP Advisory Services LLC Acquires 271 Shares of Micron Technology, Inc. $MU

KPP Advisory Services LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,951 shares of the semiconductor manufacturer’s stock after purchasing an additional 271 shares during the quarter. KPP Advisory Services LLC’s holdings in Micron Technology were worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the 1st quarter valued at $33,000. AllSquare Wealth Management LLC grew its position 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 valued at $35,000 after purchasing 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 purchased 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.

Micron Technology Stock Up 1.7%

Shares of Micron Technology stock opened at $190.96 on Tuesday. 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 stock has a market cap of $213.71 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.41 and a beta of 1.56. The firm’s 50-day moving average is $136.49 and its two-hundred day moving average is $111.49. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $201.00.

Micron Technology Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s dividend payout ratio is currently 6.06%.

Analysts Set New Price Targets

A number of analysts have issued reports on MU shares. Mizuho lifted their price objective on Micron Technology from $182.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. TD Cowen upped their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Barclays lifted their price objective on shares of Micron Technology from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Bank of America lifted their price target on Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Wolfe Research boosted their target price on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $187.08.

Insider Buying and Selling

In related news, Director Richard M. Beyer sold 5,552 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president owned 131,580 shares in the company, valued at $21,584,383.20. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,456 shares of company stock worth $15,698,445 over the last quarter. Insiders own 0.30% of the company’s stock.

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.