1,598 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,598 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. TrinityPoint Wealth LLC grew its position in shares of Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after buying an additional 8,736 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $241,000. Coldstream Capital Management Inc. grew its holdings in Micron Technology by 4.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock worth $999,000 after purchasing an additional 476 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Micron Technology by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after purchasing an additional 424 shares in the last quarter. Finally, Alpha Family Trust acquired a new position in shares of Micron Technology during the fourth quarter worth $535,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.6 %

Shares of Micron Technology stock opened at $87.35 on Thursday. The firm has a 50-day simple moving average of $101.48 and a two-hundred day simple moving average of $114.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a market cap of $96.86 billion, a P/E ratio of -61.51 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the business posted ($1.57) earnings per share. Micron Technology’s revenue for the quarter was up 81.5% on a year-over-year basis. As a group, equities analysts predict that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Morgan Stanley cut their price objective on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Raymond James dropped their target price on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $148.54.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

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.