Hudson Value Partners LLC Makes New Investment in Micron Technology, Inc. $MU

Hudson Value Partners LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, HoldingsChannel reports. The firm acquired 5,595 shares of the semiconductor manufacturer’s stock, valued at approximately $690,000.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Brighton Jones LLC lifted its holdings in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the period. Harbor Investment Advisory LLC lifted its holdings in Micron Technology by 240.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after buying an additional 300 shares during the period. Merit Financial Group LLC lifted its stake in shares of Micron Technology by 22.6% in the 1st quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock valued at $1,692,000 after purchasing an additional 3,593 shares during the period. HBW Advisory Services LLC purchased a new position in shares of Micron Technology in the 1st quarter valued at approximately $281,000. Finally, Romano Brothers AND Company purchased a new position in shares of Micron Technology in the 1st quarter valued at approximately $497,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Arete Research upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their target price on Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Wolfe Research raised their target price on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $184.77.

Insider Buying and Selling

In related news, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was 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 owned 264,036 shares of the company’s stock, valued at $28,864,415.52. This trade represents a 11.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 completion of the sale, the director directly owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,456 shares of company stock worth $10,524,945 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 8.9%

MU stock opened at $182.15 on Thursday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $182.39. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The firm has a market cap of $203.85 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.56. The business has a 50 day moving average of $131.92 and a 200 day moving average of $109.55.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a dividend of $0.115 per share. 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 dividend payout ratio (DPR) is 6.06%.

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.