Central Bank & Trust Co. Cuts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Central Bank & Trust Co. lessened its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,328 shares of the semiconductor manufacturer’s stock after selling 177 shares during the period. Central Bank & Trust Co.’s holdings in Micron Technology were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Gulf International Bank UK Ltd boosted its holdings in Micron Technology by 6.3% in the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after acquiring an additional 5,958 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Micron Technology by 4.7% in the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock worth $347,000 after acquiring an additional 131 shares in the last quarter. Midwest Financial Group LLC boosted its holdings in Micron Technology by 12.0% in the first quarter. Midwest Financial Group LLC now owns 19,810 shares of the semiconductor manufacturer’s stock worth $2,335,000 after acquiring an additional 2,115 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Micron Technology by 4.8% in the first quarter. Park Avenue Securities LLC now owns 32,036 shares of the semiconductor manufacturer’s stock worth $3,777,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in Micron Technology by 6.0% in the first quarter. Wedmont Private Capital now owns 11,984 shares of the semiconductor manufacturer’s stock worth $1,470,000 after acquiring an additional 682 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 3.2 %

Shares of Micron Technology stock traded down $4.65 during trading hours on Friday, hitting $139.54. The company’s stock had a trading volume of 51,189,670 shares, compared to its average volume of 16,941,252. Micron Technology, Inc. has a twelve month low of $60.50 and a twelve month high of $157.54. The firm has a fifty day moving average of $125.90 and a 200-day moving average of $104.12. The stock has a market cap of $154.52 billion, a price-to-earnings ratio of -40.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company posted ($2.03) EPS. The company’s quarterly revenue was up 57.7% on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MU shares. Piper Sandler lifted their target price on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Susquehanna lifted their price target on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research report on Monday, June 17th. Mizuho boosted their price objective on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Barclays boosted their price target on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Cantor Fitzgerald boosted their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.32.

Check Out Our Latest Analysis on MU

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $89,226,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $89,226,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 320,446 shares of company stock valued at $38,724,533 in the last quarter. Insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MUFree Report).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.