Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Argent Trust Co

Argent Trust Co decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,714 shares of the semiconductor manufacturer’s stock after selling 2,134 shares during the period. Argent Trust Co’s holdings in Micron Technology were worth $4,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. MML Investors Services LLC grew its stake in shares of Micron Technology by 13.0% during the third quarter. MML Investors Services LLC now owns 108,403 shares of the semiconductor manufacturer’s stock worth $11,243,000 after purchasing an additional 12,493 shares in the last quarter. Executive Wealth Management LLC bought a new stake in Micron Technology in the 3rd quarter valued at $591,000. Coldstream Capital Management Inc. increased its position in Micron Technology by 18.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,252 shares of the semiconductor manufacturer’s stock valued at $1,573,000 after acquiring an additional 2,372 shares in the last quarter. Toronto Dominion Bank lifted its stake in Micron Technology by 82.0% in the third quarter. Toronto Dominion Bank now owns 1,108,010 shares of the semiconductor manufacturer’s stock valued at $114,912,000 after buying an additional 499,281 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Micron Technology by 30.2% in the third quarter. Sunbelt Securities Inc. now owns 1,260 shares of the semiconductor manufacturer’s stock valued at $131,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU traded down $6.92 on Thursday, hitting $70.95. 8,801,027 shares of the company’s stock were exchanged, compared to its average volume of 23,069,363. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The firm has a market cap of $79.29 billion, a price-to-earnings ratio of 20.45 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm’s 50-day moving average price is $91.48 and its two-hundred day moving average price is $97.44.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

MU has been the topic of several research reports. TD Cowen decreased their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.76.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. 0.30% of the stock is currently 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.