OLD National Bancorp IN Sells 811 Shares of Micron Technology, Inc. (NASDAQ:MU)

OLD National Bancorp IN lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,726 shares of the semiconductor manufacturer’s stock after selling 811 shares during the period. OLD National Bancorp IN’s holdings in Micron Technology were worth $490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tidemark LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $25,000. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology in the 1st quarter worth $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Susquehanna raised their price target on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. Piper Sandler raised their price target on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Robert W. Baird lifted 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. Finally, Barclays lifted their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.92.

Micron Technology Stock Up 1.1 %

Micron Technology stock traded up $1.01 during mid-day trading on Friday, reaching $93.08. 21,627,209 shares of the company were exchanged, compared to its average volume of 21,416,703. The business has a fifty day moving average of $124.66 and a 200 day moving average of $112.69. The firm has a market cap of $103.21 billion, a P/E ratio of -65.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a 12-month low of $61.75 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the firm earned ($1.57) EPS. The firm’s revenue was up 81.5% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling

In other 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 approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the transaction, the senior vice president now directly owns 138,387 shares in the company, valued at $17,079,723.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,174 shares of company stock valued at $13,716,343. 0.32% of the stock is owned by company insiders.

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.