Frank Rimerman Advisors LLC Acquires 475 Shares of Micron Technology, Inc. (NASDAQ:MU)

Frank Rimerman Advisors LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,502 shares of the semiconductor manufacturer’s stock after acquiring an additional 475 shares during the period. Frank Rimerman Advisors LLC’s holdings in Micron Technology were worth $1,305,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Primecap Management Co. CA grew its stake in shares of Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the period. Geode Capital Management LLC grew its stake in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after purchasing an additional 144,897 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Barclays lowered their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.56.

Micron Technology Stock Performance

Micron Technology stock opened at $100.79 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $112.30 billion, a P/E ratio of 29.05 and a beta of 1.23. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company’s 50-day moving average is $96.72 and its 200 day moving average is $98.05.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the prior year, the business posted ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by 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.