Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,338 shares of the semiconductor manufacturer’s stock after acquiring an additional 274 shares during the period. Parkside Financial Bank & Trust’s holdings in Micron Technology were worth $281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $33,000. Stone House Investment Management LLC lifted its position in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Finally, Activest Wealth Management lifted its position in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 2.0 %

NASDAQ:MU opened at $93.63 on Friday. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The stock has a market cap of $104.32 billion, a price-to-earnings ratio of 26.98 and a beta of 1.18. The business has a fifty day moving average of $95.75 and a 200-day moving average of $98.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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

Micron Technology Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on MU. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. TD Cowen cut their target price 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Piper Sandler cut their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald cut their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Micron Technology Company 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.