First American Trust FSB lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,849 shares of the semiconductor manufacturer’s stock after selling 2,802 shares during the quarter. First American Trust FSB’s holdings in Micron Technology were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. IHT Wealth Management LLC acquired a new position in shares of Micron Technology during the second quarter valued at approximately $1,056,000. SevenBridge Financial Group LLC increased its stake in shares of Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares during the period. Jacobi Capital Management LLC increased its stake in shares of Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after acquiring an additional 2,600 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Micron Technology during the second quarter valued at approximately $107,000. Institutional investors own 81.10% of the company’s stock.
In related news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction on Friday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. Following the transaction, the senior vice president now owns 202,486 shares in the company, valued at approximately $8,585,406.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 27,878 shares of Micron Technology stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares in the company, valued at approximately $2,596,833.93. The disclosure for this sale can be found here. Insiders have sold a total of 155,720 shares of company stock worth $6,652,590 in the last 90 days. 0.53% of the stock is owned by insiders.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. sell-side analysts expect that Micron Technology, Inc. will post 9.78 earnings per share for the current year.
A number of research firms recently commented on MU. Vetr lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price objective on the stock. in a research note on Friday, November 17th. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. KeyCorp reiterated a “hold” rating on shares of Micron Technology in a research note on Friday, October 27th. Finally, Nomura restated a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Micron Technology in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.75.
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Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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