AMI Investment Management Inc. Has $2.02 Million Position in Micron Technology, Inc. (NASDAQ:MU)

AMI Investment Management Inc. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,941 shares of the semiconductor manufacturer’s stock after acquiring an additional 201 shares during the period. AMI Investment Management Inc.’s holdings in Micron Technology were worth $2,015,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Micron Technology by 21.7% during the third 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 worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after purchasing an additional 1,334,690 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Micron Technology by 1,233.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after purchasing an additional 1,323,352 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $105.75 on Monday. The firm’s 50 day moving average is $97.87 and its 200 day moving average is $102.27. The stock has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.71 billion. During the same period in the previous year, the company posted ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. Robert W. Baird dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Susquehanna cut their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

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.