Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Intrust Bank NA

Intrust Bank NA cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,926 shares of the semiconductor manufacturer’s stock after selling 401 shares during the quarter. Intrust Bank NA’s holdings in Micron Technology were worth $1,761,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after purchasing an additional 888,087 shares in the last quarter. State Street Corp increased its holdings in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Geode Capital Management LLC raised its stake in Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after buying an additional 892,607 shares in the last quarter. Norges Bank bought a new position in Micron Technology during the 4th quarter worth approximately $1,470,875,000. Finally, Bank of New York Mellon Corp grew its position in shares of Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after acquiring an additional 144,897 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $88.44 on Friday. The stock has a market cap of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The firm’s 50-day simple moving average is $96.00 and its 200 day simple moving average is $98.37. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly 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. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s dividend payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MU shares. TD Cowen dropped their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group boosted their target price on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, Mizuho dropped their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate 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.