Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Intrust Bank NA

Intrust Bank NA raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,382 shares of the semiconductor manufacturer’s stock after purchasing an additional 686 shares during the period. Intrust Bank NA’s holdings in Micron Technology were worth $1,825,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its stake in Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Morgan Stanley increased its holdings in Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after buying an additional 2,523,267 shares during the last quarter. Finally, Phoenix Holdings Ltd. raised its position in shares of Micron Technology by 8,336.6% in the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after purchasing an additional 1,753,262 shares during the period. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MU. Needham & Company LLC raised their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Robert W. Baird raised their target price on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. KeyCorp upped their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. Finally, Piper Sandler lifted their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.80 during midday trading on Tuesday, hitting $116.16. 2,700,559 shares of the stock were exchanged, compared to its average volume of 20,257,971. The business’s 50-day moving average price is $106.64 and its 200 day moving average price is $88.74. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s revenue was up 57.7% on a year-over-year basis. During the same period last year, the company earned ($2.03) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total value of $574,210.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $64,685,330.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $64,685,330.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,890 shares of company stock valued at $29,129,527. 0.32% of the stock is owned by company insiders.

About Micron Technology

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.