City State Bank Has $650,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

City State Bank lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,007 shares of the semiconductor manufacturer’s stock after selling 1,349 shares during the period. City State Bank’s holdings in Micron Technology were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. River & Mercantile Asset Management LLP grew its position in Micron Technology by 71.6% during the third quarter. River & Mercantile Asset Management LLP now owns 28,742 shares of the semiconductor manufacturer’s stock worth $1,440,000 after buying an additional 11,990 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Micron Technology by 12.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 979,255 shares of the semiconductor manufacturer’s stock worth $54,134,000 after purchasing an additional 105,788 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Micron Technology by 29.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,711 shares of the semiconductor manufacturer’s stock valued at $86,000 after purchasing an additional 385 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its position in Micron Technology by 46.5% during the second quarter. Meiji Yasuda Life Insurance Co now owns 15,968 shares of the semiconductor manufacturer’s stock worth $883,000 after purchasing an additional 5,069 shares during the period. Finally, Fortitude Advisory Group L.L.C. raised its position in shares of Micron Technology by 169.5% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 6,421 shares of the semiconductor manufacturer’s stock valued at $355,000 after buying an additional 4,038 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Micron Technology Trading Up 0.2 %

Shares of MU stock traded up $0.09 on Friday, reaching $56.66. 26,655,249 shares of the company’s stock were exchanged, compared to its average volume of 12,270,926. The company’s fifty day simple moving average is $58.60 and its 200 day simple moving average is $55.78. The stock has a market capitalization of $61.83 billion, a PE ratio of 10.28 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.23 and a debt-to-equity ratio of 0.20. Micron Technology, Inc. has a 52 week low of $48.43 and a 52 week high of $86.24.

Micron Technology (NASDAQ:MU – Get Rating) last posted its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.14 billion. Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The company’s revenue for the quarter was down 46.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post -2.71 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, December 30th. Micron Technology’s dividend payout ratio is 8.35%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Credit Suisse Group set a $66.00 price objective on shares of Micron Technology in a research report on Tuesday, January 3rd. Wells Fargo & Company decreased their target price on Micron Technology from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 7th. Raymond James assumed coverage on shares of Micron Technology in a report on Wednesday, March 1st. They issued an “outperform” rating and a $70.00 target price for the company. Morgan Stanley decreased their target price on shares of Micron Technology from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Thursday, December 22nd. Finally, Stifel Nicolaus cut their target price on shares of Micron Technology from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, December 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $66.26.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $53.40, for a total value of $1,068,000.00. Following the completion of the sale, the executive vice president now owns 228,340 shares in the company, valued at approximately $12,193,356. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Robert P. Beard sold 3,000 shares of Micron Technology stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $61.25, for a total value of $183,750.00. Following the transaction, the senior vice president now owns 42,840 shares of the company’s stock, valued at approximately $2,623,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $53.40, for a total transaction of $1,068,000.00. Following the completion of the sale, the executive vice president now owns 228,340 shares of the company’s stock, valued at $12,193,356. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,000 shares of company stock valued at $3,982,190. 0.33% of the stock is currently owned by corporate insiders.

Micron Technology Company Profile

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.