2,080 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Heartland Bank & Trust Co

Heartland Bank & Trust Co purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,080 shares of the semiconductor manufacturer’s stock, valued at approximately $274,000.

Several other large investors have also recently added to or reduced their stakes in the company. DecisionPoint Financial LLC acquired a new position in Micron Technology during the 1st quarter worth $25,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter valued at $28,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $29,000. Valued Wealth Advisors LLC boosted its holdings in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the last quarter. Finally, Richard W. Paul & Associates LLC increased its position in Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Micron Technology stock opened at $103.71 on Tuesday. The business has a 50 day moving average of $97.40 and a 200-day moving average of $115.05. The company has a market capitalization of $115.00 billion, a P/E ratio of -73.04, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the company posted ($1.21) EPS. The company’s revenue was up 93.3% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Rosenblatt Securities raised their price objective on shares of 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 reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Susquehanna cut their price target on 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, KeyCorp dropped their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 $15,348,790. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.32% 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.