Greenleaf Trust Acquires 446 Shares of Micron Technology, Inc. (NASDAQ:MU)

Greenleaf Trust raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,339 shares of the semiconductor manufacturer’s stock after acquiring an additional 446 shares during the quarter. Greenleaf Trust’s holdings in Micron Technology were worth $2,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortis Capital Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter worth $25,000. OFI Invest Asset Management bought a new stake in Micron Technology during the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology during the third quarter valued at about $28,000. Coppell Advisory Solutions LLC bought a new stake in Micron Technology during the second quarter valued at about $32,000. Finally, VisionPoint Advisory Group LLC boosted its position in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Robert W. Baird increased their price target on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Cantor Fitzgerald increased their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $86,789,214.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The disclosure for this sale can be found here. Insiders have sold 313,890 shares of company stock worth $33,617,027 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $106.77 on Friday. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The company has a market cap of $118.23 billion, a price-to-earnings ratio of -30.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The business’s 50 day moving average price is $102.95 and its 200 day moving average price is $86.67.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the business posted ($2.03) earnings per share. The firm’s revenue was up 57.7% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio is currently -13.33%.

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.