Bank of Stockton Sells 345 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bank of Stockton cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,715 shares of the semiconductor manufacturer’s stock after selling 345 shares during the quarter. Bank of Stockton’s holdings in Micron Technology were worth $1,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. Massachusetts Wealth Management purchased a new position in shares of Micron Technology during the third quarter valued at approximately $929,000. Mediolanum International Funds Ltd grew its stake in shares of Micron Technology by 167.8% in the third quarter. Mediolanum International Funds Ltd now owns 144,390 shares of the semiconductor manufacturer’s stock worth $15,496,000 after acquiring an additional 90,482 shares during the last quarter. Court Place Advisors LLC bought a new position in shares of Micron Technology during the third quarter valued at $1,001,000. Blackston Financial Advisory Group LLC bought a new position in shares of Micron Technology during the third quarter valued at $207,000. Finally, Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Micron Technology in the 3rd quarter worth about $906,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Susquehanna decreased their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. The Goldman Sachs Group raised their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU traded up $2.40 during trading hours on Friday, reaching $109.25. The company’s stock had a trading volume of 4,349,764 shares, compared to its average volume of 22,043,215. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $121.14 billion, a price-to-earnings ratio of -77.08 and a beta of 1.18. The firm’s 50-day moving average price is $99.23 and its 200-day moving average price is $114.10.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology’s payout ratio is -32.39%.

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.