Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Intrust Bank NA

Intrust Bank NA cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,926 shares of the semiconductor manufacturer’s stock after selling 401 shares during the quarter. Intrust Bank NA’s holdings in Micron Technology were worth $1,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $33,000. Activest Wealth Management raised its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology during the fourth quarter worth $34,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’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 value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MU. Citigroup dropped their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Needham & Company LLC dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group upped their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Micron Technology Trading Down 3.0 %

Shares of MU opened at $88.44 on Friday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The firm has a market capitalization of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $96.00 and its 200 day simple moving average is $98.37.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business posted $0.42 EPS. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 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, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.