AMI Investment Management Inc. Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

AMI Investment Management Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,393 shares of the semiconductor manufacturer’s stock after purchasing an additional 586 shares during the quarter. Micron Technology comprises about 2.2% of AMI Investment Management Inc.’s investment portfolio, making the stock its 15th biggest position. AMI Investment Management Inc.’s holdings in Micron Technology were worth $5,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MU. Revolve Wealth Partners LLC increased its position in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares during the last quarter. Sandy Spring Bank increased its position in shares of Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares during the last quarter. First Affirmative Financial Network increased its position in shares of Micron Technology by 4.7% during the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock worth $347,000 after acquiring an additional 131 shares during the last quarter. HMS Capital Management LLC increased its position in shares of Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after acquiring an additional 138 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in shares of Micron Technology by 11.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock worth $121,000 after acquiring an additional 140 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley lifted their price target on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Susquehanna lifted their price target on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Stifel Nicolaus lifted their target price on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Stock Down 0.5 %

NASDAQ:MU traded down $0.70 during trading hours on Friday, hitting $131.53. 38,140,587 shares of the stock traded hands, compared to its average volume of 26,317,870. The firm has a 50 day moving average price of $128.07 and a 200 day moving average price of $106.46. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54. The firm has a market cap of $145.65 billion, a price-to-earnings ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS 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 business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the previous year, the company posted ($1.57) EPS. Micron Technology’s revenue was up 81.5% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 0.39 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares in the company, valued at $90,780,874.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the sale, the senior vice president now directly owns 138,387 shares in the company, valued at $17,079,723.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the sale, the chief executive officer now owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,840 shares of company stock worth $37,961,924. Corporate 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.