Gilman Hill Asset Management LLC Acquires New Stake in Micron Technology, Inc. (NASDAQ:MU)

Gilman Hill Asset Management LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the second quarter, HoldingsChannel reports. The firm acquired 2,225 shares of the semiconductor manufacturer’s stock, valued at approximately $293,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after acquiring an additional 1,681,815 shares during the period. Capital World Investors lifted its holdings in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after buying an additional 1,400,154 shares during the period. Sanders Capital LLC lifted its holdings in shares of Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares during the period. Capital International Investors lifted its holdings in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of several research reports. Piper Sandler upped their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird upped their target price on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Wolfe Research upped their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. The Goldman Sachs Group boosted their price target on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Cantor Fitzgerald boosted their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.92.

Micron Technology Stock Performance

Shares of MU stock traded up $1.01 during mid-day trading on Friday, reaching $93.08. The stock had a trading volume of 21,627,209 shares, compared to its average volume of 21,416,703. The business’s fifty day moving average is $124.66 and its 200-day moving average is $112.87. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The firm has a market cap of $103.21 billion, a price-to-earnings ratio of -65.55 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $61.75 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 81.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.57) earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s payout ratio is -32.39%.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the sale, the executive vice president now owns 218,048 shares in the company, valued at $26,822,084.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 12,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the transaction, the executive vice president now owns 218,048 shares in the company, valued at approximately $26,822,084.48. The disclosure for this sale can be found here. Insiders have sold 101,174 shares of company stock worth $13,716,343 over the last quarter. 0.32% 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.