14,037 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Heritage Trust Co

Heritage Trust Co bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,037 shares of the semiconductor manufacturer's stock, valued at approximately $1,181,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. E Fund Management Co. Ltd. grew its stake in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after acquiring an additional 4,264 shares in the last quarter. Stablepoint Partners LLC bought a new stake in Micron Technology during the fourth quarter worth approximately $569,000. Landscape Capital Management L.L.C. raised its position in Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Micron Technology by 11.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after purchasing an additional 52,729 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

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Micron Technology Price Performance

Shares of MU traded up $0.02 during mid-day trading on Tuesday, hitting $71.04. 18,493,519 shares of the company were exchanged, compared to its average volume of 23,257,973. 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 stock has a market cap of $79.39 billion, a price-to-earnings ratio of 20.47 and a beta of 1.18. The company has a 50 day moving average of $90.21 and a 200-day moving average of $96.75.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.65%. Micron Technology's dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MU. JPMorgan Chase & Co. decreased their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Robert W. Baird upped their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Needham & Company LLC reduced their target price on Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley increased their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.36.

Insider Buying and Selling

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