Smithfield Trust Co Sells 619 Shares of Micron Technology, Inc. (NASDAQ:MU)

Smithfield Trust Co lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 8.4% during the fourth quarter, Holdings Channel reports. The firm owned 6,723 shares of the semiconductor manufacturer’s stock after selling 619 shares during the period. Smithfield Trust Co’s holdings in Micron Technology were worth $572,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Keybank National Association OH raised its stake in shares of Micron Technology by 7.3% in the fourth quarter. Keybank National Association OH now owns 18,316 shares of the semiconductor manufacturer’s stock valued at $1,541,000 after buying an additional 1,243 shares during the period. SWS Partners grew its position in shares of Micron Technology by 30.8% in the fourth quarter. SWS Partners now owns 20,998 shares of the semiconductor manufacturer’s stock valued at $1,770,000 after purchasing an additional 4,945 shares in the last quarter. Ring Mountain Capital LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at $658,000. Commerzbank Aktiengesellschaft FI grew its position in shares of Micron Technology by 17.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 8,237 shares of the semiconductor manufacturer’s stock valued at $703,000 after purchasing an additional 1,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Micron Technology by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,880,563 shares of the semiconductor manufacturer’s stock valued at $579,068,000 after purchasing an additional 159,437 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MU shares. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays lowered their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research report on Tuesday, December 17th. Finally, Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. One 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Up 3.4 %

Micron Technology stock opened at $94.34 on Thursday. The firm has a market cap of $105.11 billion, a price-to-earnings ratio of 27.19 and a beta of 1.18. The stock has a fifty day simple moving average of $95.91 and a two-hundred day simple moving average of $98.60. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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 analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period last year, the business posted ($0.95) EPS. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

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.