Gemmer Asset Management LLC Purchases 167 Shares of Micron Technology, Inc. (NASDAQ:MU)

Gemmer Asset Management LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 0.5% in the 1st quarter, Holdings Channel reports. The firm owned 30,885 shares of the semiconductor manufacturer’s stock after buying an additional 167 shares during the quarter. Gemmer Asset Management LLC’s holdings in Micron Technology were worth $2,684,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 976 shares during the period. Stratos Wealth Advisors LLC grew its holdings in shares of Micron Technology by 2.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer’s stock valued at $691,000 after buying an additional 204 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Micron Technology by 6.9% during the fourth quarter. Bleakley Financial Group LLC now owns 50,887 shares of the semiconductor manufacturer’s stock valued at $4,283,000 after buying an additional 3,268 shares during the last quarter. Adero Partners LLC lifted its position in Micron Technology by 9.1% during the fourth quarter. Adero Partners LLC now owns 3,183 shares of the semiconductor manufacturer’s stock valued at $268,000 after purchasing an additional 266 shares during the period. Finally, Silver Oak Securities Incorporated lifted its position in Micron Technology by 19.9% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,609 shares of the semiconductor manufacturer’s stock valued at $308,000 after purchasing an additional 598 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.1%

MU stock opened at $108.56 on Friday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. The firm’s 50-day moving average is $83.97 and its two-hundred day moving average is $92.17. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Citigroup cut their price objective on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley dropped their price target on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.20.

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.