D.B. Root & Company LLC Buys 219 Shares of Micron Technology, Inc. $MU

D.B. Root & Company LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,237 shares of the semiconductor manufacturer’s stock after acquiring an additional 219 shares during the period. D.B. Root & Company LLC’s holdings in Micron Technology were worth $399,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC lifted its holdings in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing 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 1st quarter worth $36,000. Hilltop National Bank acquired a new stake in Micron Technology in the 2nd quarter valued at $37,000. Finally, Saudi Central Bank acquired a new stake in Micron Technology in the 1st quarter valued at $38,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 2.2%

Shares of MU opened at $187.83 on Monday. The business has a 50-day moving average of $134.89 and a 200 day moving average of $110.82. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $191.85. The firm has a market cap of $210.21 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the transaction, the director directly owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,456 shares of company stock worth $15,698,445. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MU. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a report on Monday, September 22nd. KeyCorp lifted their price objective on shares of Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Mizuho lifted their price objective on shares of Micron Technology from $182.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. UBS Group increased their price target on Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Bank of America increased their price target on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Micron Technology has a consensus 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.