UMB Bank n.a. Purchases 1,188 Shares of Micron Technology, Inc. (NASDAQ:MU)

UMB Bank n.a. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,817 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,188 shares during the period. UMB Bank n.a.’s holdings in Micron Technology were worth $574,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MU. Wealth Management Partners LLC grew its holdings in shares of Micron Technology by 9.9% during the 4th quarter. Wealth Management Partners LLC now owns 8,666 shares of the semiconductor manufacturer’s stock valued at $729,000 after purchasing an additional 779 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $455,000. Ballast Inc. grew its stake in shares of Micron Technology by 7.7% during the fourth quarter. Ballast Inc. now owns 12,447 shares of the semiconductor manufacturer’s stock worth $1,048,000 after buying an additional 895 shares during the last quarter. Polianta Ltd acquired a new position in shares of Micron Technology during the fourth quarter worth $1,102,000. Finally, Artemis Investment Management LLP lifted its stake in shares of Micron Technology by 15.8% in the 4th quarter. Artemis Investment Management LLP now owns 269,891 shares of the semiconductor manufacturer’s stock valued at $22,714,000 after acquiring an additional 36,914 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 3.4 %

NASDAQ MU opened at $109.38 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The business has a 50 day moving average price of $97.82 and a 200-day moving average price of $101.80. The company has a market cap of $121.87 billion, a price-to-earnings ratio of 31.52 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) EPS. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Ratings Changes

Several research firms have commented on MU. Morgan Stanley dropped their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus cut their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Sanford C. Bernstein decreased their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.24.

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.