Peoples Bank OH Invests $812,000 in Micron Technology, Inc. $MU

Peoples Bank OH acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, Holdings Channel reports. The fund acquired 6,585 shares of the semiconductor manufacturer’s stock, valued at approximately $812,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Micron Technology by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock valued at $602,917,000 after purchasing an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after purchasing an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock valued at $379,417,000 after purchasing an additional 17,970 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.2%

Shares of Micron Technology stock opened at $187.83 on Friday. The company has a market cap of $210.20 billion, a P/E ratio of 24.75, a PEG ratio of 0.40 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, Inc. has a one year low of $61.54 and a one year high of $191.85. The firm has a fifty day moving average of $134.89 and a two-hundred day moving average of $110.70.

Micron Technology Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio is 6.06%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total transaction of $2,712,900.00. Following the transaction, the chief executive officer directly owned 310,148 shares of the company’s stock, valued at $56,093,367.28. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the transaction, the director directly owned 96,031 shares in the company, valued at approximately $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,456 shares of company stock worth $15,698,445. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MU shares. Wedbush upped their price target on shares of Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wells Fargo & Company upped their price target on shares of Micron Technology from $170.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Raymond James Financial upped their price target on shares of Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently 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.