Raymond James Trust N.A. Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Raymond James Trust N.A. trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 12.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,692 shares of the semiconductor manufacturer’s stock after selling 3,192 shares during the period. Raymond James Trust N.A.’s holdings in Micron Technology were worth $2,353,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Micron Technology by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock worth $697,048,000 after acquiring an additional 65,591 shares during the last quarter. Banco Santander S.A. increased its stake in Micron Technology by 39.1% in the third quarter. Banco Santander S.A. now owns 164,378 shares of the semiconductor manufacturer’s stock worth $17,048,000 after purchasing an additional 46,203 shares during the period. DE Burlo Group Inc. grew its holdings in shares of Micron Technology by 143.4% in the third quarter. DE Burlo Group Inc. now owns 335,825 shares of the semiconductor manufacturer’s stock worth $34,828,000 after purchasing an additional 197,835 shares during the last quarter. Pacer Advisors Inc. increased its stake in Micron Technology by 3.8% in the 3rd quarter. Pacer Advisors Inc. now owns 136,536 shares of the semiconductor manufacturer’s stock worth $14,160,000 after buying an additional 4,968 shares during the period. Finally, Tradewinds LLC. boosted its position in Micron Technology by 22.8% in the 3rd quarter. Tradewinds LLC. now owns 21,201 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after buying an additional 3,937 shares during the period. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MU. Rosenblatt Securities lifted their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Raymond James lifted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Wells Fargo & Company dropped their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Finally, KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Stock Down 0.1 %

MU stock opened at $102.64 on Friday. The stock has a market capitalization of $113.80 billion, a PE ratio of 150.94 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week 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 firm has a 50 day moving average of $102.46 and a 200 day moving average of $112.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the firm posted ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

About Micron Technology

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.