SGL Investment Advisors Inc. Acquires Shares of 2,824 Micron Technology, Inc. $MU

SGL Investment Advisors Inc. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,824 shares of the semiconductor manufacturer’s stock, valued at approximately $351,000.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC raised its position in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology in the first quarter valued at $36,000. Hilltop National Bank purchased a new stake in shares of Micron Technology during the 2nd quarter worth $37,000. Finally, Saudi Central Bank acquired a new position in shares of Micron Technology during the 1st quarter worth $38,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU 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 firm has a market cap of $213.71 billion, a PE ratio of 25.16, a P/E/G ratio of 0.41 and a beta of 1.56. The firm has a 50 day simple moving average of $136.49 and a 200-day simple moving average of $111.49. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $201.00.

Micron Technology Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Citigroup boosted their target price on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Susquehanna lifted their price target on Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, September 17th. Wedbush increased their price objective on shares of Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Arete Research upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Buy” and a consensus target price of $187.08.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction dated 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 sale, the chief executive officer owned 310,148 shares in the company, valued at $56,093,367.28. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company’s stock, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,456 shares of company stock worth $15,698,445 in the last three months. Company 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.