FineMark National Bank & Trust Acquires 136 Shares of Micron Technology, Inc. (NASDAQ:MU)

FineMark National Bank & Trust increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,640 shares of the semiconductor manufacturer’s stock after buying an additional 136 shares during the quarter. FineMark National Bank & Trust’s holdings in Micron Technology were worth $306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Beacon Capital Management LLC increased its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at approximately $33,000. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management grew its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction 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 sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price target on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Rosenblatt Securities reduced their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $129.96.

Micron Technology Stock Performance

NASDAQ:MU opened at $92.13 on Thursday. The company has a market capitalization of $102.65 billion, a price-to-earnings ratio of 26.55 and a beta of 1.23. The business has a 50 day moving average of $96.58 and a 200 day moving average of $98.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.