BankPlus Trust Department Takes $56,000 Position in Micron Technology, Inc. (NASDAQ:MU)

BankPlus Trust Department purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 663 shares of the semiconductor manufacturer’s stock, valued at approximately $56,000.

A number of other institutional investors also recently modified their holdings of MU. Stonebrook Private Inc. lifted its stake in Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the last quarter. John G Ullman & Associates Inc. lifted its stake in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its stake in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares during the last quarter. PDS Planning Inc lifted its stake in shares of Micron Technology by 2.4% in the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after acquiring an additional 104 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after acquiring an additional 114 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of MU opened at $93.22 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a 50-day moving average of $95.71 and a 200-day moving average of $98.93. The company has a market cap of $103.86 billion, a PE ratio of 26.86 and a beta of 1.18. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is 13.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on MU shares. TD Cowen dropped their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Mizuho dropped their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC dropped their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein dropped their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.