Moody National Bank Trust Division Trims Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Moody National Bank Trust Division lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,194 shares of the semiconductor manufacturer’s stock after selling 642 shares during the quarter. Moody National Bank Trust Division’s holdings in Micron Technology were worth $1,279,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter worth $26,000. Davis Capital Management purchased a new position in shares of Micron Technology during the 3rd quarter valued at about $30,000. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC boosted its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 4.3 %

NASDAQ MU opened at $95.06 on Tuesday. The business’s fifty day simple moving average is $98.55 and its 200-day simple moving average is $102.89. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $105.90 billion, a PE ratio of 139.80 and a beta of 1.16. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.95) EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. UBS Group decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Barclays lowered their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Cantor Fitzgerald decreased their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC dropped their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley reduced their price target on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value 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. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company’s stock.

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.