Fulton Bank N.A. Sells 524 Shares of Micron Technology, Inc. (NASDAQ:MU)

Fulton Bank N.A. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 7.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,249 shares of the semiconductor manufacturer’s stock after selling 524 shares during the period. Fulton Bank N.A.’s holdings in Micron Technology were worth $822,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc raised its stake in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the last quarter. Retirement Group LLC lifted its stake in shares of Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 100 shares in the last quarter. AIA Group Ltd increased its holdings in shares of Micron Technology by 2.1% in the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after purchasing an additional 101 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in shares of Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of a number of recent research reports. UBS Group cut their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Raymond James increased their price target on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Bank of America boosted their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Susquehanna upped their price target on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.92.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,413 shares of company stock valued at $15,288,739. 0.32% of the stock is owned by corporate insiders.

Micron Technology Trading Down 0.2 %

Shares of MU stock traded down $0.22 on Wednesday, hitting $88.78. The stock had a trading volume of 17,987,619 shares, compared to its average volume of 21,317,152. The company’s 50 day moving average price is $126.87 and its 200-day moving average price is $112.99. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54. The firm has a market capitalization of $98.44 billion, a P/E ratio of -64.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the company earned ($1.57) earnings per share. The company’s revenue was up 81.5% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.