Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,612 shares of the semiconductor manufacturer’s stock after selling 141 shares during the period. Hancock Whitney Corp’s holdings in Micron Technology were worth $997,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the second quarter worth about $28,000. Davis Capital Management purchased a new position in shares of Micron Technology in the 3rd quarter worth about $30,000. Richard W. Paul & Associates LLC lifted its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MU has been the subject of several research reports. Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Bank of America upped their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. One investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $101.80 on Wednesday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $103.07 and its two-hundred day moving average is $111.90. The firm has a market capitalization of $112.87 billion, a P/E ratio of 149.71 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

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.