Greenleaf Trust Sells 3,188 Shares of Micron Technology, Inc. $MU

Greenleaf Trust trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,080 shares of the semiconductor manufacturer’s stock after selling 3,188 shares during the period. Greenleaf Trust’s holdings in Micron Technology were worth $3,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock worth $602,917,000 after buying an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after buying an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Micron Technology by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock worth $379,417,000 after buying an additional 17,970 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the transaction, the director owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares of the company’s stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,456 shares of company stock worth $10,524,945 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MU. Wall Street Zen raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 26th. TD Cowen upped their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, September 19th. The Goldman Sachs Group upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. CLSA began coverage on shares of Micron Technology in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 target price for the company. Finally, Raymond James Financial upped their target price on shares of Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Buy” and an average price target of $184.77.

Micron Technology Stock Up 2.1%

Micron Technology stock opened at $167.39 on Wednesday. The stock has a market capitalization of $187.33 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.36 and a beta of 1.47. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $170.45. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $130.47 and a 200-day moving average of $109.05.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is 6.06%.

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.