AMI Investment Management Inc. Has $6.22 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

AMI Investment Management Inc. lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 47,317 shares of the semiconductor manufacturer’s stock after selling 3,076 shares during the quarter. Micron Technology accounts for approximately 2.2% of AMI Investment Management Inc.’s investment portfolio, making the stock its 14th largest holding. AMI Investment Management Inc.’s holdings in Micron Technology were worth $6,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MU. J.W. Cole Advisors Inc. raised its position in Micron Technology by 30.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 4,715 shares of the semiconductor manufacturer’s stock worth $402,000 after purchasing an additional 1,095 shares in the last quarter. CWM LLC raised its holdings in shares of Micron Technology by 5.8% in the 4th quarter. CWM LLC now owns 21,522 shares of the semiconductor manufacturer’s stock worth $1,837,000 after buying an additional 1,175 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Micron Technology by 11.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 67,657 shares of the semiconductor manufacturer’s stock worth $5,777,000 after buying an additional 7,114 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Micron Technology by 6.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,340 shares of the semiconductor manufacturer’s stock valued at $2,163,000 after buying an additional 1,543 shares in the last quarter. Finally, Bailard Inc. grew its position in Micron Technology by 13.5% in the fourth quarter. Bailard Inc. now owns 54,558 shares of the semiconductor manufacturer’s stock valued at $4,656,000 after acquiring an additional 6,508 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MU shares. Raymond James lifted their price objective on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Morgan Stanley increased their target price on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Cantor Fitzgerald boosted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. TD Cowen upped their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, UBS Group cut their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.52.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,174 shares of company stock worth $8,635,073. 0.32% of the stock is currently owned by company insiders.

Micron Technology Trading Down 1.4 %

Shares of MU traded down $1.41 on Friday, reaching $102.85. 24,535,168 shares of the company’s stock were exchanged, compared to its average volume of 21,332,375. The business has a 50 day moving average price of $118.55 and a two-hundred day moving average price of $114.05. Micron Technology, Inc. has a 12 month low of $62.63 and a 12 month high of $157.54. The stock has a market capitalization of $114.04 billion, a P/E ratio of -72.43 and a beta of 1.18. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company posted ($1.57) EPS. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s payout ratio is currently -32.39%.

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.