Gemmer Asset Management LLC Has $2.59 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Gemmer Asset Management LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 31.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,718 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,412 shares during the quarter. Gemmer Asset Management LLC’s holdings in Micron Technology were worth $2,585,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology in the 3rd quarter valued at approximately $26,000. Davis Capital Management acquired a new stake in Micron Technology in the 3rd quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Micron Technology in the 2nd quarter worth about $39,000. Stone House Investment Management LLC raised its stake in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 3.1 %

Shares of NASDAQ:MU opened at $105.75 on Monday. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The stock has a market capitalization of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18. The stock has a fifty day simple moving average of $97.87 and a two-hundred day simple moving average of $102.27. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating 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 company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the firm posted ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’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 sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MU. Cantor Fitzgerald decreased their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Stifel Nicolaus lowered their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. TD Cowen decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

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.