First National Bank of Hutchinson Buys 223 Shares of Micron Technology, Inc. (NASDAQ:MU)

First National Bank of Hutchinson boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,888 shares of the semiconductor manufacturer’s stock after acquiring an additional 223 shares during the period. First National Bank of Hutchinson’s holdings in Micron Technology were worth $748,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Micron Technology by 21.7% in the 3rd 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 acquiring an additional 2,022,180 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Micron Technology during the fourth quarter valued at approximately $135,865,000. State Street Corp lifted its stake 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 during the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Micron Technology by 254.4% during 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 during the last quarter. Finally, Bridgewater Associates LP bought a new stake in Micron Technology in the third quarter worth $102,018,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $102.06 on Thursday. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The stock has a market cap of $113.71 billion, a price-to-earnings ratio of 29.41 and a beta of 1.23. The company has a 50-day moving average price of $96.84 and a two-hundred day moving average price of $98.19. 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 announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) EPS. The business’s revenue was up 84.3% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on MU shares. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC cut their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Barclays cut their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.16.

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.