Berger Financial Group Inc Grows Stock Holdings in Micron Technology, Inc. $MU

Berger Financial Group Inc raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,925 shares of the semiconductor manufacturer’s stock after acquiring an additional 974 shares during the period. Berger Financial Group Inc’s holdings in Micron Technology were worth $7,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Mount Vernon Associates Inc. MD bought a new stake in shares of Micron Technology during the second quarter valued at approximately $259,000. Willner & Heller LLC acquired a new position in Micron Technology during the second quarter valued at $256,000. Stanich Group LLC acquired a new position in shares of Micron Technology in the 2nd quarter valued at $229,000. Bank Hapoalim BM acquired a new stake in Micron Technology in the second quarter valued at approximately $216,000. Finally, LGT Fund Management Co Ltd. purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $222,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. This represents a 10.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard M. Beyer sold 5,552 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,456 shares of company stock worth $15,698,445 over the last quarter. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $187.83 on Friday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $191.85. The company has a market capitalization of $210.20 billion, a P/E ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56. The business has a 50 day simple moving average of $134.89 and a 200-day simple moving average of $110.76. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

Analyst Ratings Changes

Several research firms recently issued reports on MU. Arete Research upgraded Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. CLSA initiated coverage on Micron Technology in a research report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price target for the company. Citigroup raised their price objective on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. The Goldman Sachs Group increased their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Finally, Bank of America boosted their price target on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” 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 issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.77.

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.