Whittier Trust Co. Sells 144 Shares of Micron Technology, Inc. (NASDAQ:MU)

Whittier Trust Co. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,337 shares of the semiconductor manufacturer’s stock after selling 144 shares during the period. Whittier Trust Co.’s holdings in Micron Technology were worth $113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebrook Private Inc. boosted its stake in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the period. Trivant Custom Portfolio Group LLC boosted its stake in shares of Micron Technology by 20.0% during the fourth 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 during the period. Xcel Wealth Management LLC boosted its stake in shares of Micron Technology by 1.8% during the fourth 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 during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC boosted its stake in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MU shares. Morgan Stanley increased their price objective on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday. Finally, UBS Group upped their target price on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Trading Down 8.0 %

NASDAQ MU opened at $94.72 on Monday. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The stock has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The stock’s fifty day moving average price is $96.82 and its 200-day moving average price is $98.34. 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 earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Micron Technology 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.