Glenview Trust co Sells 192 Shares of Micron Technology, Inc. (NASDAQ:MU)

Glenview Trust co reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 4.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,913 shares of the semiconductor manufacturer’s stock after selling 192 shares during the period. Glenview Trust co’s holdings in Micron Technology were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. Raymond James Financial Inc. bought a new position in Micron Technology during the fourth quarter worth $135,865,000. State Street Corp boosted its stake in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Micron Technology during the third quarter worth $102,018,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

MU opened at $103.11 on Tuesday. The firm has a market cap of $114.88 billion, a P/E ratio of 29.71 and a beta of 1.23. The firm has a 50-day moving average of $96.80 and a 200 day moving average of $98.13. 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 fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last posted 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. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.95) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 completion of 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. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several research reports. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Morgan Stanley lowered their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. The Goldman Sachs Group lowered their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

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.