Stock Yards Bank & Trust Co. decreased its position in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,858 shares of the semiconductor manufacturer’s stock after selling 240 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Micron Technology were worth $243,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Ensign Peak Advisors Inc increased its stake in Micron Technology by 12.1% in the second quarter. Ensign Peak Advisors Inc now owns 979,255 shares of the semiconductor manufacturer’s stock valued at $54,134,000 after acquiring an additional 105,788 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Micron Technology by 29.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,711 shares of the semiconductor manufacturer’s stock valued at $86,000 after buying an additional 385 shares during the last quarter. Dupont Capital Management Corp grew its stake in shares of Micron Technology by 118.1% during the second quarter. Dupont Capital Management Corp now owns 21,775 shares of the semiconductor manufacturer’s stock valued at $1,204,000 after buying an additional 11,789 shares during the last quarter. First Hawaiian Bank grew its stake in shares of Micron Technology by 26.7% during the second quarter. First Hawaiian Bank now owns 7,517 shares of the semiconductor manufacturer’s stock valued at $416,000 after buying an additional 1,584 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in shares of Micron Technology by 46.5% during the second quarter. Meiji Yasuda Life Insurance Co now owns 15,968 shares of the semiconductor manufacturer’s stock valued at $883,000 after buying an additional 5,069 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Micron Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $60.00 to $55.00 in a research note on Monday, December 12th. Bank of America lowered their price objective on shares of Micron Technology from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, September 30th. Mizuho lowered their price objective on shares of Micron Technology from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, December 22nd. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, September 27th. Finally, Susquehanna lowered their target price on shares of Micron Technology from $68.00 to $60.00 and set a “positive” rating for the company in a report on Monday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.21.
Micron Technology Stock Up 5.7 %
Micron Technology (NASDAQ:MU – Get Rating) last issued its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.14 billion. Micron Technology had a net margin of 22.78% and a return on equity of 13.26%. The business’s revenue for the quarter was down 46.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post -2.51 EPS for the current fiscal year.
Micron Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Tuesday, January 3rd were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.74%. Micron Technology’s payout ratio is 8.35%.
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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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