First Citizens Bank & Trust Co. Purchases 346 Shares of Micron Technology, Inc. (NASDAQ:MU)

First Citizens Bank & Trust Co. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,855 shares of the semiconductor manufacturer’s stock after acquiring an additional 346 shares during the period. First Citizens Bank & Trust Co.’s holdings in Micron Technology were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonebrook Private Inc. increased its holdings in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares in the last quarter. John G Ullman & Associates Inc. grew its holdings in shares of Micron Technology by 2.5% during the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC increased its stake in shares of Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares during the period. Trust Co. of Vermont raised its holdings in Micron Technology by 14.3% in the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after buying an additional 103 shares during the last quarter. Finally, PDS Planning Inc boosted its position in Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after buying an additional 104 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

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

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $91.09 on Tuesday. The firm has a market capitalization of $101.48 billion, a PE ratio of 26.25 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $98.36 and a two-hundred day moving average price of $101.08. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (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 for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.51%. Micron Technology’s dividend payout ratio is currently 13.26%.

Analyst Ratings Changes

Several equities analysts have issued reports on MU shares. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $135.24.

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.