Bank of Stockton Acquires 647 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bank of Stockton increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 18,362 shares of the semiconductor manufacturer’s stock after buying an additional 647 shares during the period. Bank of Stockton’s holdings in Micron Technology were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Transcend Capital Advisors LLC lifted its holdings in shares of Micron Technology by 60.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 6,159 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 2,326 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its holdings in shares of Micron Technology by 811.1% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 16,400 shares of the semiconductor manufacturer’s stock valued at $1,380,000 after purchasing an additional 14,600 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Micron Technology during the fourth quarter valued at $357,000. Legacy Capital Group California Inc. lifted its holdings in shares of Micron Technology by 227.2% during the fourth quarter. Legacy Capital Group California Inc. now owns 9,935 shares of the semiconductor manufacturer’s stock valued at $836,000 after purchasing an additional 6,899 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Micron Technology by 24.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 7,873 shares of the semiconductor manufacturer’s stock valued at $663,000 after purchasing an additional 1,542 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent research reports. Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein lowered their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. UBS Group lowered their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. TD Cowen lowered their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Stock Down 1.0 %

Shares of MU opened at $103.28 on Friday. The business’s 50 day moving average is $96.35 and its 200 day moving average is $98.70. The company has a market capitalization of $115.07 billion, a PE ratio of 29.76 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $79.94 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) EPS. The company’s revenue was up 84.3% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.