Riverview Trust Co Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Riverview Trust Co lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 637 shares of the semiconductor manufacturer’s stock after purchasing an additional 140 shares during the quarter. Riverview Trust Co’s holdings in Micron Technology were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MU. Stonebrook Private Inc. raised its position in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after acquiring an additional 98 shares in the last quarter. John G Ullman & Associates Inc. increased its holdings 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 purchasing an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its holdings 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 purchasing an additional 100 shares in the last quarter. PDS Planning Inc increased its holdings 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 purchasing an additional 104 shares in the last quarter. Finally, Xcel Wealth Management LLC increased its holdings in shares of Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

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 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 directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $93.63 on Friday. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The stock has a fifty day moving average of $95.75 and a 200-day moving average of $98.88. The company has a market capitalization of $104.32 billion, a PE ratio of 26.98 and a beta of 1.18. 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 (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.95) EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date 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 13.26%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MU shares. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, Morgan Stanley lowered their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s 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.

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.