Gemmer Asset Management LLC Purchases 685 Shares of Micron Technology, Inc. $MU

Gemmer Asset Management LLC grew its position in Micron Technology, Inc. (NASDAQ:MU) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,570 shares of the semiconductor manufacturer’s stock after acquiring an additional 685 shares during the period. Gemmer Asset Management LLC’s holdings in Micron Technology were worth $3,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mission Wealth Management LP boosted its holdings in shares of Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock worth $1,360,000 after buying an additional 10,348 shares during the period. TB Alternative Assets Ltd. boosted its holdings in shares of Micron Technology by 331.3% during the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock worth $6,933,000 after buying an additional 61,288 shares during the period. Stock Yards Bank & Trust Co. bought a new stake in shares of Micron Technology during the 1st quarter worth about $228,000. Clarius Group LLC boosted its holdings in shares of Micron Technology by 57.9% during the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer’s stock worth $1,237,000 after buying an additional 5,220 shares during the period. Finally, Kera Capital Partners Inc. bought a new stake in shares of Micron Technology during the 2nd quarter worth about $211,000. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. KeyCorp lifted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Bank of America boosted their price objective on shares of Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Citigroup boosted their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Cantor Fitzgerald boosted their price objective on shares of Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, UBS Group boosted their price objective on shares of Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.77.

Micron Technology Price Performance

MU stock opened at $187.83 on Friday. The firm has a 50 day moving average of $134.89 and a 200-day moving average of $110.76. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $191.85. The firm has a market capitalization of $210.20 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology’s payout ratio is presently 6.06%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total transaction of $2,712,900.00. Following the completion of the sale, the chief executive officer directly owned 310,148 shares in the company, valued at $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. The trade was a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,456 shares of company stock valued at $15,698,445. Company insiders own 0.30% of the company’s stock.

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.