Keybank National Association OH Acquires 1,243 Shares of Micron Technology, Inc. (NASDAQ:MU)

Keybank National Association OH boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,316 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,243 shares during the quarter. Keybank National Association OH’s holdings in Micron Technology were worth $1,541,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB lifted its position in shares of Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after buying an additional 806,639 shares in the last quarter. M&G PLC lifted its position in shares of Micron Technology by 29.3% during the 3rd quarter. M&G PLC now owns 149,037 shares of the semiconductor manufacturer’s stock worth $15,500,000 after buying an additional 33,815 shares in the last quarter. Graypoint LLC lifted its position in shares of Micron Technology by 19.3% during the 3rd quarter. Graypoint LLC now owns 11,705 shares of the semiconductor manufacturer’s stock worth $1,214,000 after buying an additional 1,896 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Micron Technology by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer’s stock worth $130,253,000 after buying an additional 52,912 shares in the last quarter. Finally, Summit Global Investments lifted its position in shares of Micron Technology by 21.1% during the 3rd quarter. Summit Global Investments now owns 30,908 shares of the semiconductor manufacturer’s stock worth $3,205,000 after buying an additional 5,392 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 4.1 %

Shares of NASDAQ:MU opened at $92.96 on Friday. The firm has a fifty day moving average price of $95.99 and a two-hundred day moving average price of $98.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a market cap of $103.57 billion, a price-to-earnings ratio of 26.79 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the firm earned ($0.95) EPS. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

MU has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Morgan Stanley dropped their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. UBS Group decreased 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 note on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased 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 note on Thursday, December 19th. One research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.