Frank Rimerman Advisors LLC Has $3.58 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Frank Rimerman Advisors LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 22,933.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 27,180 shares of the semiconductor manufacturer’s stock after purchasing an additional 27,062 shares during the period. Frank Rimerman Advisors LLC’s holdings in Micron Technology were worth $3,575,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MU. TrinityPoint Wealth LLC boosted its position in shares of Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $241,000. Tidemark LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $25,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Micron Technology by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock valued at $11,645,000 after acquiring an additional 3,046 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at $587,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on MU. Raymond James reduced their price target on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Citigroup decreased their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, KeyCorp cut their target price on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Stock Up 1.8 %

MU stock opened at $90.90 on Friday. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market cap of $100.79 billion, a P/E ratio of -64.01 and a beta of 1.17. The stock’s fifty day simple moving average is $99.81 and its two-hundred day simple moving average is $114.70. 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 posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share 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 analyst estimates of $6.67 billion. During the same quarter in the prior year, the business earned ($1.57) earnings per share. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company 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.