US Bancorp DE Reduces Stake in Micron Technology, Inc. (NASDAQ:MU)

US Bancorp DE cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,964 shares of the semiconductor manufacturer’s stock after selling 3,925 shares during the period. US Bancorp DE’s holdings in Micron Technology were worth $57,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MU. Hennion & Walsh Asset Management Inc. purchased a new position in Micron Technology during the 1st quarter valued at $273,000. Kovack Advisors Inc. grew its holdings in shares of Micron Technology by 7.4% in the first quarter. Kovack Advisors Inc. now owns 3,120 shares of the semiconductor manufacturer’s stock worth $368,000 after purchasing an additional 214 shares during the last quarter. Norden Group LLC increased its stake in Micron Technology by 43.4% in the 1st quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock worth $420,000 after buying an additional 1,078 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Micron Technology by 58.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 7,459 shares of the semiconductor manufacturer’s stock valued at $880,000 after buying an additional 2,744 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Micron Technology by 9.3% in the 1st quarter. Private Advisor Group LLC now owns 81,272 shares of the semiconductor manufacturer’s stock valued at $9,581,000 after buying an additional 6,895 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MU shares. Morgan Stanley raised their target price on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Stifel Nicolaus reduced their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. China Renaissance began coverage on Micron Technology in a report on Monday. They issued a “buy” rating and a $148.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Finally, Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Micron Technology Stock Down 4.3 %

Micron Technology stock opened at $99.65 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $65.26 and a fifty-two week high of $157.54. The company has a market cap of $110.49 billion, a PE ratio of 146.54 and a beta of 1.18. The business’s 50-day simple moving average is $99.01 and its two-hundred day simple moving average is $113.42.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the company earned ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

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.