Gilman Hill Asset Management LLC Purchases Shares of 2,225 Micron Technology, Inc. (NASDAQ:MU)

Gilman Hill Asset Management LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,225 shares of the semiconductor manufacturer’s stock, valued at approximately $293,000.

Several other large investors have also modified their holdings of the stock. Tidemark LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter worth $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent research reports. Mizuho raised their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of Micron Technology in a research report on Tuesday, June 25th. Susquehanna raised their price target on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research report on Monday, June 17th. Raymond James raised their price target on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, Bank of America raised their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Two research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.92.

Micron Technology Trading Up 1.1 %

MU stock traded up $1.01 during trading on Friday, hitting $93.08. The company had a trading volume of 21,627,209 shares, compared to its average volume of 21,416,703. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $124.66 and a 200-day moving average price of $112.87. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54. The stock has a market cap of $103.21 billion, a price-to-earnings ratio of -65.55 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping 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 firm 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. Micron Technology’s revenue was up 81.5% on a year-over-year basis. As a group, analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were 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 directly 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. In the last 90 days, insiders sold 101,174 shares of company stock valued at $13,716,343. Company insiders own 0.32% of the company’s stock.

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.