Pinnacle Financial Partners Inc Sells 1,395 Shares of Micron Technology, Inc. (NASDAQ:MU)

Pinnacle Financial Partners Inc trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,065 shares of the semiconductor manufacturer’s stock after selling 1,395 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Micron Technology were worth $11,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the third quarter valued at $26,000. Beacon Capital Management LLC increased its stake in shares of Micron Technology by 114.9% during the fourth 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 during the period. True Wealth Design LLC increased its stake in shares of Micron Technology by 1,096.3% during the third 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 during the period. DT Investment Partners LLC increased its stake in shares of Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC increased its stake in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Down 4.3 %

Shares of NASDAQ:MU opened at $98.78 on Friday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a market capitalization of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The business has a 50 day moving average of $96.28 and a two-hundred day moving average of $98.76. 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 announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during 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%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of several analyst reports. 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 note on Thursday, December 19th. UBS Group cut their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. One research 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’s stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

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.