AMI Investment Management Inc. Buys 586 Shares of Micron Technology, Inc. (NASDAQ:MU)

AMI Investment Management Inc. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,393 shares of the semiconductor manufacturer’s stock after acquiring an additional 586 shares during the quarter. Micron Technology comprises 2.2% of AMI Investment Management Inc.’s investment portfolio, making the stock its 15th biggest position. AMI Investment Management Inc.’s holdings in Micron Technology were worth $5,942,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Tidemark LLC bought a new stake in shares of Micron Technology during the 4th quarter worth approximately $25,000. Pingora Partners LLC bought a new position in Micron Technology in the 4th quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in Micron Technology in the 1st quarter valued at approximately $39,000. Frank Rimerman Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at approximately $29,000. Finally, VisionPoint Advisory Group LLC increased its position in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MU. UBS Group decreased their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday. Wolfe Research upped their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. The Goldman Sachs Group upped their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler raised their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price target on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $158.52.

Insider Buying and Selling

In other news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,840 shares of company stock worth $37,961,924. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.5 %

Shares of MU traded down $0.70 during trading hours on Friday, reaching $131.53. 38,140,587 shares of the stock traded hands, compared to its average volume of 26,317,870. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54. The stock has a fifty day simple moving average of $128.07 and a 200 day simple moving average of $106.46. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. The company has a market cap of $145.65 billion, a price-to-earnings ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the company posted ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 0.39 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is presently -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.