663 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by BankPlus Trust Department

BankPlus Trust Department purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 663 shares of the semiconductor manufacturer’s stock, valued at approximately $56,000.

A number of other hedge funds have also bought and sold shares of MU. Highline Wealth Partners LLC purchased a new position in Micron Technology in the 3rd quarter valued at approximately $26,000. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $33,000. Finally, Stone House Investment Management LLC grew its position in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $93.22 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $103.86 billion, a PE ratio of 26.86 and a beta of 1.18. The firm has a fifty day simple moving average of $95.71 and a two-hundred day simple moving average of $98.93. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.95) earnings per share. Research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MU shares. UBS Group reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Piper Sandler reduced their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Needham & Company LLC reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

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.