Heartland Bank & Trust Co Sells 107 Shares of Micron Technology, Inc. (NASDAQ:MU)

Heartland Bank & Trust Co cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,973 shares of the semiconductor manufacturer’s stock after selling 107 shares during the quarter. Heartland Bank & Trust Co’s holdings in Micron Technology were worth $205,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after buying an additional 1,681,815 shares during the last quarter. Capital World Investors raised its stake in shares of Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares during the last quarter. Capital International Investors boosted its holdings in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Micron Technology by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock valued at $1,063,580,000 after purchasing an additional 519,641 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Micron Technology Trading Up 1.7 %

Shares of NASDAQ:MU opened at $106.85 on Friday. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The company has a market cap of $118.48 billion, a PE ratio of -75.25 and a beta of 1.18. The stock has a 50 day moving average of $99.23 and a 200 day moving average of $114.10. 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 quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. 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) earnings per share. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, equities research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MU shares. Bank of America lifted their price objective on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Citigroup lowered their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Piper Sandler upped their price target on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $142.85.

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.