First Citizens Bank & Trust Co. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,855 shares of the semiconductor manufacturer’s stock after purchasing an additional 346 shares during the period. First Citizens Bank & Trust Co.’s holdings in Micron Technology were worth $493,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of Micron Technology by 1.2% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 439,749 shares of the semiconductor manufacturer’s stock worth $37,009,000 after purchasing an additional 5,188 shares during the last quarter. Midwest Financial Group LLC boosted its position in Micron Technology by 6.6% in the fourth quarter. Midwest Financial Group LLC now owns 21,480 shares of the semiconductor manufacturer’s stock valued at $1,808,000 after buying an additional 1,330 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Micron Technology by 6.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 4,585 shares of the semiconductor manufacturer’s stock worth $386,000 after buying an additional 289 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC raised its stake in shares of Micron Technology by 91.5% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 4,214 shares of the semiconductor manufacturer’s stock valued at $355,000 after acquiring an additional 2,014 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on MU shares. Cantor Fitzgerald dropped their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. 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 research note on Thursday, December 19th. Finally, China Renaissance started coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.24.
Insider Transactions at Micron Technology
In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.
Micron Technology Stock Down 11.7 %
Micron Technology stock opened at $91.09 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company’s 50-day moving average is $98.36 and its 200-day moving average is $101.08. The firm has a market capitalization of $101.48 billion, a PE ratio of 26.25 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54.
Micron Technology (NASDAQ:MU – Get Free Report) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping 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 business 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 firm earned ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current year.
Micron Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.
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.
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