Private Trust Co. NA Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Private Trust Co. NA lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,851 shares of the semiconductor manufacturer’s stock after selling 472 shares during the period. Private Trust Co. NA’s holdings in Micron Technology were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC grew its position in Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after acquiring an additional 40,802 shares in the last quarter. Global X Japan Co. Ltd. grew its holdings in Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after purchasing an additional 9,735 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Micron Technology by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after buying an additional 65,591 shares in the last quarter. River Road Asset Management LLC boosted its position in Micron Technology by 9.1% in the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after buying an additional 13,573 shares during the last quarter. Finally, RWQ Financial Management Services Inc. acquired a new stake in shares of Micron Technology during the third quarter valued at about $1,270,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Rosenblatt Securities increased their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Susquehanna reduced their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, China Renaissance assumed coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Down 3.5 %

MU stock opened at $98.20 on Thursday. The firm’s 50-day moving average is $103.28 and its two-hundred day moving average is $111.80. The company has a market capitalization of $108.88 billion, a price-to-earnings ratio of 144.41 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.21) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.