Cromwell Holdings LLC Has $434,000 Position in Micron Technology, Inc. $MU

Cromwell Holdings LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,519 shares of the semiconductor manufacturer’s stock after acquiring an additional 359 shares during the period. Cromwell Holdings LLC’s holdings in Micron Technology were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. HMS Capital Management LLC lifted its holdings in Micron Technology by 0.6% during the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock valued at $2,375,000 after purchasing an additional 107 shares during the last quarter. D.B. Root & Company LLC lifted its holdings in Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock valued at $262,000 after purchasing an additional 108 shares during the last quarter. Werlinich Asset Management LLC lifted its holdings in Micron Technology by 1.1% during the 2nd quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer’s stock valued at $1,317,000 after purchasing an additional 115 shares during the last quarter. Rise Advisors LLC lifted its holdings in Micron Technology by 5.3% during the 1st quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer’s stock valued at $206,000 after purchasing an additional 120 shares during the last quarter. Finally, Orca Wealth Management LLC raised its stake in shares of Micron Technology by 1.5% in the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer’s stock worth $737,000 after acquiring an additional 129 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MU. Bank of America increased their price objective on shares of Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Piper Sandler increased their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Barclays upped their target price on shares of Micron Technology from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, The Goldman Sachs Group upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $184.77.

Micron Technology Stock Performance

Shares of MU opened at $183.75 on Friday. The firm has a 50-day moving average of $133.36 and a 200-day moving average of $110.11. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $186.18. The company has a market cap of $205.64 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 0.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is currently 6.06%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 13,798 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the sale, the chief executive officer owned 325,148 shares in the company, valued at approximately $52,739,005.60. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard M. Beyer sold 5,552 shares of Micron Technology 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 94,456 shares of company stock worth $12,985,545 in the last quarter. 0.30% of the stock is owned by corporate insiders.

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.