Arvest Bank Trust Division decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 643,972 shares of the semiconductor manufacturer’s stock after selling 20,203 shares during the quarter. Micron Technology makes up approximately 1.8% of Arvest Bank Trust Division’s portfolio, making the stock its 13th biggest position. Arvest Bank Trust Division owned 0.06% of Micron Technology worth $26,480,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Stephens Inc. AR acquired a new stake in shares of Micron Technology during the 2nd quarter valued at $220,000. PNC Financial Services Group Inc. boosted its holdings in shares of Micron Technology by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 134,094 shares of the semiconductor manufacturer’s stock valued at $4,005,000 after acquiring an additional 469 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Micron Technology by 1.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 126,604 shares of the semiconductor manufacturer’s stock valued at $3,780,000 after acquiring an additional 2,005 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Micron Technology by 29.6% during the 2nd quarter. MML Investors Services LLC now owns 23,562 shares of the semiconductor manufacturer’s stock valued at $704,000 after acquiring an additional 5,388 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Micron Technology by 10.2% during the 2nd quarter. Nordea Investment Management AB now owns 296,464 shares of the semiconductor manufacturer’s stock worth $8,852,000 after buying an additional 27,426 shares during the period. 81.02% of the stock is currently owned by institutional investors.
In other news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total value of $128,190.00. Following the transaction, the director now owns 113,585 shares in the company, valued at approximately $4,853,487.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. Following the completion of the transaction, the senior vice president now owns 202,486 shares in the company, valued at approximately $8,585,406.40. The disclosure for this sale can be found here. Insiders have sold a total of 158,720 shares of company stock valued at $6,786,240 in the last quarter. Company insiders own 0.53% of the company’s stock.
Several brokerages have commented on MU. Goldman Sachs Group set a $55.00 target price on Micron Technology and gave the stock a “buy” rating in a report on Thursday, January 11th. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Zacks Investment Research downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price (up from $75.00) on shares of Micron Technology in a report on Wednesday, December 20th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $60.00 target price on shares of Micron Technology in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and an average price target of $55.75.
Shares of Micron Technology, Inc. (MU) traded down $1.24 during trading on Monday, reaching $42.75. The company had a trading volume of 41,469,100 shares, compared to its average volume of 41,488,914. Micron Technology, Inc. has a twelve month low of $21.74 and a twelve month high of $49.89. The company has a market cap of $49,250.00, a price-to-earnings ratio of 6.73, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was up 71.4% compared to the same quarter last year. sell-side analysts predict that Micron Technology, Inc. will post 9.78 earnings per share for the current fiscal year.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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