Frank Rimerman Advisors LLC Sells 12,153 Shares of Micron Technology, Inc. (NASDAQ:MU)

Frank Rimerman Advisors LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 44.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,027 shares of the semiconductor manufacturer's stock after selling 12,153 shares during the period. Frank Rimerman Advisors LLC's holdings in Micron Technology were worth $1,558,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter valued at about $25,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $28,000. Valued Wealth Advisors LLC grew its holdings in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter worth approximately $30,000. Finally, Richard W. Paul & Associates LLC lifted its stake in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 1.0 %

MU stock traded up $1.06 during trading on Friday, reaching $107.91. The stock had a trading volume of 12,264,950 shares, compared to its average volume of 22,081,268. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $119.66 billion, a price-to-earnings ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company's 50 day moving average is $99.22 and its two-hundred day moving average is $113.89.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.65 billion. During the same period in the previous year, the business posted ($1.21) EPS. The business's revenue for the quarter was up 93.3% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio (DPR) is presently -32.39%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MU shares. Citigroup dropped their target price on Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Wells Fargo & Company cut their target price on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 18th. Susquehanna dropped their price target on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating for the company in a research note on Thursday, September 26th. TD Cowen lifted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, Morgan Stanley raised their target price on Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $142.85.

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.