Citizens National Bank Trust Department Purchases 1,393 Shares of Micron Technology, Inc. $MU

Citizens National Bank Trust Department raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,595 shares of the semiconductor manufacturer’s stock after buying an additional 1,393 shares during the period. Citizens National Bank Trust Department’s holdings in Micron Technology were worth $1,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after acquiring an additional 976 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Micron Technology by 36.7% during the first quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer’s stock worth $357,000 after purchasing an additional 1,102 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Micron Technology by 17.4% during the 1st quarter. Park Avenue Securities LLC now owns 30,191 shares of the semiconductor manufacturer’s stock valued at $2,623,000 after purchasing an additional 4,480 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Micron Technology by 17.6% during the 1st quarter. Capital Investment Advisors LLC now owns 7,429 shares of the semiconductor manufacturer’s stock valued at $645,000 after purchasing an additional 1,112 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its position in shares of Micron Technology by 12.9% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer’s stock worth $314,000 after purchasing an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $185.69 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $201.00. The company has a 50 day simple moving average of $137.96 and a two-hundred day simple moving average of $112.01. The stock has a market cap of $208.43 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 0.42 and a beta of 1.56.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is currently 6.06%.

Insider Buying and Selling

In related news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president directly owned 131,580 shares of the company’s stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,956 shares of company stock worth $22,841,025. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Summit Insights upgraded Micron Technology to a “strong-buy” rating in a research note on Tuesday, September 23rd. Wells Fargo & Company increased their price objective on shares of Micron Technology from $170.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Needham & Company LLC boosted their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Rosenblatt Securities upped their price target on shares of Micron Technology from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, TD Cowen raised their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $189.37.

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.