Keybank National Association OH Sells 1,100 Shares of Micron Technology, Inc. (NASDAQ:MU)

Keybank National Association OH trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,477 shares of the semiconductor manufacturer’s stock after selling 1,100 shares during the period. Keybank National Association OH’s holdings in Micron Technology were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Fortis Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $25,000. OFI Invest Asset Management bought a new position in shares of Micron Technology during the third quarter worth $27,000. Coppell Advisory Solutions LLC bought a new position in shares of Micron Technology during the second quarter worth $32,000. 1832 Asset Management L.P. bought a new position in shares of Micron Technology during the second quarter worth $38,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Micron Technology during the first quarter worth $38,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho increased their price objective on shares of Micron Technology from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Evercore ISI increased their target price on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, December 21st. UBS Group increased their target price on shares of Micron Technology from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Barclays increased their target price on shares of Micron Technology from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, December 21st. Finally, Bank of America increased their target price on shares of Micron Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.95.

Read Our Latest Analysis on MU

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 127,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $80.01, for a total transaction of $10,161,270.00. Following the completion of the transaction, the chief executive officer now owns 651,759 shares of the company’s stock, valued at $52,147,237.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Micron Technology news, EVP Scott J. Deboer sold 28,228 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the sale, the executive vice president now owns 203,342 shares of the company’s stock, valued at $17,739,556.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 127,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $80.01, for a total transaction of $10,161,270.00. Following the sale, the chief executive officer now directly owns 651,759 shares in the company, valued at approximately $52,147,237.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,228 shares of company stock worth $24,084,651. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 2.7 %

MU stock opened at $84.60 on Wednesday. The firm’s fifty day simple moving average is $82.91 and its 200-day simple moving average is $74.26. Micron Technology, Inc. has a 12 month low of $52.76 and a 12 month high of $90.04. The company has a market capitalization of $93.39 billion, a P/E ratio of -13.47 and a beta of 1.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.53 and a quick ratio of 2.14.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings data on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.06. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post -0.99 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Tuesday, January 2nd were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, December 29th. Micron Technology’s payout ratio is currently -7.32%.

Micron Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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