Arvest Trust Company NA reduced stake in Micron Technology. (NASDAQ: MU – Get Rating ) grew 1.3% in the third quarter, according to the company’s most recent disclosure to the SEC. The institutional investor held 270,634 shares of the semiconductor maker after selling 3,465 shares during the quarter. Arvest Trust’s holding in Micron Technology was valued at $13,559,000 as of the most recent SEC filing.
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A number of other hedge funds have also adjusted their holdings in the company. Pacers Advisors increased its stake in Micron Technology by 3,953.3% in the third quarter. Walker Advisors now owns 2,665,173 shares of the semiconductor maker worth $133,525,000 after purchasing an additional 2,599,420 shares last quarter. FIFTHDELTA Ltd increased its stake in Micron Technology by 288.7% in the second quarter. FIFTHDELTA Ltd now owns 3,377,400 shares in the semiconductor maker worth $186,703,000 after purchasing an additional 2,508,600 shares last quarter. Barclays PLC increased its stake in Micron Technology by 123.3% in the third quarter. Barclays PLC now owns 3,726,636 shares of the semiconductor maker worth $186,705,000 after purchasing an additional 2,057,970 shares last quarter. AQR Capital Management LLC increased its stake in Micron Technology by 87.2% in the second quarter. AQR Capital Management LLC now owns 3,716,016 shares of the semiconductor maker worth $202,263,000 after purchasing an additional 1,731,289 shares last quarter. Finally, Maj Invest Holding AS increased its stake in Micron Technology by 108.6% in the third quarter. Maj Invest Holding AS now owns 3,132,941 shares in the semiconductor maker worth $156,959,000 after buying an additional 1,631,006 shares last quarter. 78.02% of the shares are currently held by institutional investors.
Micron Technology Stock Performance
MU shares opened Friday at $62.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.51, and a quick ratio of 2.23. Micron Technology Inc. had a one-year low of $48.43 and a one-year high of $96.50. The company’s 50-day simple moving average is $55.16 and the 200-day simple moving average is $56.42. The company has a market cap of $67.99 billion, a price-to-earnings ratio of 11.40, and a beta of 1.30.
Micron Technology (NASDAQ: MU – Get Rating ) last reported earnings on Wednesday, December 21st. The semiconductor maker reported earnings per share (EPS) of $0.15 for the quarter, missing consensus estimates of $0.13 ($0.02). Micron Technology’s net profit margin was 22.78%, and its return on equity was 13.26%. The business reported revenue of $4.09 billion for the quarter, compared with analysts’ expectations of $4.14 billion. In the same quarter the previous year, the company reported EPS of $2.07. Micron’s revenue for the quarter fell 46.9% year-over-year. On average, analysts expect Micron Technology, Inc. to post -2.51 EPS for the current fiscal year.
Micron Technology Declares Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 19. Investors of record on Tuesday, January 3 received a dividend of $0.115 per share. This represents an annualized dividend of $0.46 and a dividend yield of 0.74%. The ex-dividend date for this dividend is Friday, December 30. Micron Technology’s dividend payout ratio (DPR) currently stands at 8.35%.
Micron Technology’s Internal Activities
In other Micron Technology news, Senior Vice President Robert P. Beard sold 3,000 shares of Micron Technology stock in a trade that occurred on Monday, January 23rd. These shares sold at an average price of $61.25 for a total value of $183,750.00. Following the sale, the senior vice president now owns 42,840 shares of the company, worth approximately $2,623,950. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. 0.33% of shares are owned by insiders.
Wall Street analysts forecast growth
A number of equity research analysts have recently weighed in on MU stock. Loop Capital began coverage on shares of Micron Technology in a research report on Thursday, October 13th. They set a “buy” rating and a $70.00 price target on the stock. Bank of America cut their price target on Micron Technology from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, September 30th. Argus downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Summit Insights raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Friday, September 30th. Finally, Cowen lowered their price target on Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, December 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have rated the stock with a buy rating. The company has a Moderate Buy consensus rating and an average price target of $66.21, according to MarketBeat.
About Micron Technology
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Micron Technology, Inc is dedicated to providing innovative memory and storage solutions. It operates through the following segments: Computing and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU) and Embedded Business Unit (EBU). The CNBU segment includes memory products sold to the cloud server, enterprise, client, graphics and networking markets.
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Want to see which other hedge funds own MU? Visit HoldingsChannel.com for Micron Technology, Inc.’s latest 13F filings and insider trading. (NASDAQ: MU – Get Rated).
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