Stock Yards Bank & Trust Co. Raises Stock Holdings in Micron Technology, Inc. $MU

Stock Yards Bank & Trust Co. increased its position in Micron Technology, Inc. (NASDAQ:MU) by 30.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,428 shares of the semiconductor manufacturer’s stock after acquiring an additional 805 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Micron Technology were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after acquiring an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Micron Technology by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock valued at $602,917,000 after buying an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after buying an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock valued at $379,417,000 after buying an additional 17,970 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ:MU opened at $187.83 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $191.85. The stock has a market capitalization of $210.20 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56. The stock’s 50-day moving average price is $134.89 and its 200-day moving average price is $110.76.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is presently 6.06%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the sale, the chief executive officer owned 310,148 shares in the company, valued at approximately $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. Piper Sandler lifted their price objective on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Micron Technology in a research note on Saturday, September 27th. Cantor Fitzgerald lifted their price objective on Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Bank of America lifted their price objective on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Wedbush raised their target price on Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $184.77.

Micron Technology 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.