Frank Rimerman Advisors LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Frank Rimerman Advisors LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,502 shares of the semiconductor manufacturer’s stock after buying an additional 475 shares during the period. Frank Rimerman Advisors LLC’s holdings in Micron Technology were worth $1,305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MU. Brandes Investment Partners LP raised its position in shares of Micron Technology by 4.6% in the 4th quarter. Brandes Investment Partners LP now owns 1,281,232 shares of the semiconductor manufacturer’s stock valued at $107,828,000 after purchasing an additional 56,328 shares during the last quarter. United Capital Management of KS Inc. acquired a new position in Micron Technology during the 4th quarter valued at approximately $1,202,000. Sienna Gestion purchased a new position in shares of Micron Technology in the fourth quarter worth $4,497,000. Midwest Professional Planners LTD. lifted its stake in shares of Micron Technology by 4.0% during the fourth quarter. Midwest Professional Planners LTD. now owns 8,678 shares of the semiconductor manufacturer’s stock worth $730,000 after buying an additional 337 shares during the period. Finally, Postrock Partners LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $464,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley lowered their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Cantor Fitzgerald reduced their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. Finally, UBS Group lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.56.

Micron Technology Trading Up 6.2 %

Shares of MU opened at $100.79 on Friday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm has a market capitalization of $112.30 billion, a P/E ratio of 29.05 and a beta of 1.23. The firm has a 50-day moving average price of $96.72 and a 200 day moving average price of $98.05. 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 results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. The business’s revenue was up 84.3% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

About Micron Technology

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.