Arvest Bank Trust Division Buys 22,631 Shares of Micron Technology, Inc. (NASDAQ:MU)

Arvest Bank Trust Division boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 229,033 shares of the semiconductor manufacturer's stock after purchasing an additional 22,631 shares during the quarter. Micron Technology comprises 1.2% of Arvest Bank Trust Division's holdings, making the stock its 24th largest holding. Arvest Bank Trust Division's holdings in Micron Technology were worth $19,275,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MU. Beacon Capital Management LLC increased its stake in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Activest Wealth Management grew its holdings in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter valued at $34,000. Finally, Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter worth $34,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on MU. Citigroup dropped their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Piper Sandler decreased their price target on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities cut their price objective on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Barclays raised their target price on Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.36.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Down 0.8 %

NASDAQ:MU traded down $0.53 during trading hours on Friday, reaching $68.80. The company's stock had a trading volume of 20,670,930 shares, compared to its average volume of 23,271,762. The firm has a 50-day simple moving average of $88.23 and a 200-day simple moving average of $95.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The firm has a market capitalization of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the company posted $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Micron Technology's dividend payout ratio is presently 11.03%.

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.