Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Intrust Bank NA

Intrust Bank NA lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,382 shares of the semiconductor manufacturer’s stock after purchasing an additional 686 shares during the period. Intrust Bank NA’s holdings in Micron Technology were worth $1,825,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $28,000. OFI Invest Asset Management acquired a new position in Micron Technology during the third quarter worth $27,000. VisionPoint Advisory Group LLC boosted its position in shares of Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC raised its holdings in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 251 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the transaction, the chief executive officer now directly owns 773,557 shares of the company’s stock, valued at approximately $77,355,700. The disclosure for this sale can be found here. Insiders sold a total of 261,890 shares of company stock valued at $29,129,527 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. KeyCorp upped their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Needham & Company LLC raised their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Bank of America boosted their price target on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Raymond James raised their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Performance

Shares of MU traded up $1.80 during trading hours on Tuesday, reaching $116.16. The company had a trading volume of 2,700,559 shares, compared to its average volume of 20,257,971. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The firm has a 50 day simple moving average of $106.64 and a 200-day simple moving average of $88.74.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.03) earnings per share. As a group, equities analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Micron Technology Company 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.