Community Bank & Trust Waco Texas Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Community Bank & Trust Waco Texas lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,127 shares of the semiconductor manufacturer’s stock after purchasing an additional 736 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Micron Technology were worth $1,984,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Private Management Group Inc. bought a new position in shares of Micron Technology during the first quarter valued at approximately $215,000. TBH Global Asset Management LLC bought a new stake in Micron Technology during the 1st quarter valued at approximately $296,000. Beacon Investment Advisory Services Inc. grew its holdings in shares of Micron Technology by 2.6% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 5,081 shares of the semiconductor manufacturer’s stock worth $599,000 after acquiring an additional 130 shares during the period. Clearwater Capital Advisors LLC bought a new position in shares of Micron Technology in the 1st quarter worth approximately $224,000. Finally, Midwest Professional Planners LTD. lifted its stake in shares of Micron Technology by 2.9% in the 1st quarter. Midwest Professional Planners LTD. now owns 6,834 shares of the semiconductor manufacturer’s stock valued at $806,000 after purchasing an additional 193 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related 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 transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MU. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Raymond James lifted their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Citigroup dropped their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Morgan Stanley increased their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $104.10 on Wednesday. The business has a 50-day simple moving average of $100.41 and a 200-day simple moving average of $113.11. 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 one year low of $72.93 and a one year high of $157.54. The company has a market cap of $115.42 billion, a PE ratio of 153.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS 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 during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the business posted ($1.21) EPS. The firm’s revenue was up 93.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

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.