Columbia Asset Management Has $564,000 Stake in Micron Technology, Inc. $MU

Columbia Asset Management trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,580 shares of the semiconductor manufacturer’s stock after selling 400 shares during the period. Columbia Asset Management’s holdings in Micron Technology were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. HMS Capital Management LLC lifted its position in Micron Technology by 0.6% during the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock worth $2,375,000 after purchasing an additional 107 shares during the period. D.B. Root & Company LLC lifted its position in Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock worth $262,000 after purchasing an additional 108 shares during the period. Werlinich Asset Management LLC lifted its position in Micron Technology by 1.1% during the second quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer’s stock worth $1,317,000 after purchasing an additional 115 shares during the period. Rise Advisors LLC lifted its position in Micron Technology by 5.3% during the first quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer’s stock worth $206,000 after purchasing an additional 120 shares during the period. Finally, Orca Wealth Management LLC lifted its position in Micron Technology by 1.5% during the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer’s stock worth $737,000 after purchasing an additional 129 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Erste Group Bank started coverage on Micron Technology in a research note on Thursday, August 14th. They set a “buy” rating for the company. Morgan Stanley boosted their target price on Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, September 22nd. Stifel Nicolaus boosted their target price on Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Cantor Fitzgerald boosted their target price on Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note 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 four have given a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Buy” and a consensus price target of $184.77.

Micron Technology Stock Performance

Micron Technology stock opened at $167.39 on Wednesday. The business has a 50 day moving average of $130.47 and a 200-day moving average of $109.05. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $170.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The company has a market capitalization of $187.33 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.36 and a beta of 1.47.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology’s dividend payout ratio is currently 6.06%.

Insider Transactions at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,456 shares of company stock worth $10,524,945. 0.30% of the stock is owned by corporate insiders.

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.