Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Lessened by Smithfield Trust Co

Smithfield Trust Co lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,723 shares of the semiconductor manufacturer’s stock after selling 619 shares during the quarter. Smithfield Trust Co’s holdings in Micron Technology were worth $572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after purchasing an additional 806,639 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Micron Technology by 12.1% in the third quarter. Janney Montgomery Scott LLC now owns 120,731 shares of the semiconductor manufacturer’s stock worth $12,521,000 after purchasing an additional 13,051 shares during the period. United Advisor Group LLC bought a new position in Micron Technology in the third quarter worth $753,000. Crestwood Advisors Group LLC lifted its position in Micron Technology by 38.5% in the third quarter. Crestwood Advisors Group LLC now owns 2,283 shares of the semiconductor manufacturer’s stock worth $237,000 after purchasing an additional 635 shares during the period. Finally, Beacon Financial Advisory LLC lifted its holdings in shares of Micron Technology by 6.4% during the third quarter. Beacon Financial Advisory LLC now owns 3,093 shares of the semiconductor manufacturer’s stock valued at $321,000 after acquiring an additional 186 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $94.34 on Thursday. 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’s fifty day moving average price is $95.91 and its two-hundred day moving average price is $98.60. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The firm has a market cap of $105.11 billion, a price-to-earnings ratio of 27.19 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.95) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MU. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Barclays lowered their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus 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.