Hancock Whitney Corp Has $997,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Hancock Whitney Corp decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 1.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,612 shares of the semiconductor manufacturer’s stock after selling 141 shares during the quarter. Hancock Whitney Corp’s holdings in Micron Technology were worth $997,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Van ECK Associates Corp raised its holdings in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares in the last quarter. Swedbank AB raised its stake in shares of Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Micron Technology by 1,233.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after acquiring an additional 1,323,352 shares in the last quarter. Caxton Associates LP lifted its holdings in Micron Technology by 2,500.0% in the 2nd quarter. Caxton Associates LP now owns 1,300,000 shares of the semiconductor manufacturer’s stock worth $170,989,000 after purchasing an additional 1,250,000 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new stake in Micron Technology during the second quarter worth approximately $144,684,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 2.6 %

NASDAQ MU opened at $101.80 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm has a market cap of $112.87 billion, a PE ratio of 149.71 and a beta of 1.18. The stock’s 50 day simple moving average is $103.07 and its 200 day simple moving average is $111.90. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the business posted ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Stifel Nicolaus cut their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

About Micron Technology

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.