Community Bank & Trust Waco Texas Trims Position in Micron Technology, Inc. (NASDAQ:MU)

Community Bank & Trust Waco Texas lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 32.9% during the 4th quarter, Holdings Channel reports. The fund owned 18,467 shares of the semiconductor manufacturer’s stock after selling 9,053 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Micron Technology were worth $1,576,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology during the 3rd quarter worth about $28,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology during the 3rd quarter worth about $27,000. VisionPoint Advisory Group LLC increased its position in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares during the last quarter. Cape Investment Advisory Inc. increased its position in shares of Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC increased its position in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares in the company, valued at $68,620,230.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’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 transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 306,890 shares of company stock worth $33,005,157 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MU shares. Wells Fargo & Company lifted their target price on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, March 21st. Bank of America lifted their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Citigroup reaffirmed a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Stock Performance

NASDAQ MU traded down $2.58 on Wednesday, reaching $109.88. The stock had a trading volume of 10,461,177 shares, compared to its average volume of 20,452,990. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The business’s 50-day moving average price is $104.04 and its 200 day moving average price is $87.52. The stock has a market cap of $121.68 billion, a P/E ratio of -32.10 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating 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 company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the business earned ($2.03) earnings per share. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.