M&T Bank Corp Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

M&T Bank Corp increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 53,445 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,161 shares during the period. M&T Bank Corp’s holdings in Micron Technology were worth $4,561,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MU. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at about $28,000. OFI Invest Asset Management acquired a new stake in Micron Technology in the third quarter valued at approximately $27,000. VisionPoint Advisory Group LLC lifted its stake in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. Cape Investment Advisory Inc. grew its holdings in 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 acquiring an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC increased its position in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold 316,890 shares of company stock valued at $35,485,387 in the last ninety days. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

NASDAQ:MU opened at $120.13 on Tuesday. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. 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 firm has a 50-day moving average price of $109.56 and a two-hundred day moving average price of $90.33.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.03) EPS. Analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Robert W. Baird upgraded Micron Technology from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $150.00 in a research note on Monday. Barclays upped their price target on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Raymond James raised their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.60.

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.