Community Bank & Trust Waco Texas Sells 155 Shares of Micron Technology, Inc. (NASDAQ:MU)

Community Bank & Trust Waco Texas reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,391 shares of the semiconductor manufacturer’s stock after selling 155 shares during the period. Community Bank & Trust Waco Texas’ holdings in Micron Technology were worth $2,419,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tidemark LLC bought a new position in Micron Technology during the fourth quarter valued at about $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology in the second quarter valued at $28,000. Finally, Frank Rimerman Advisors LLC bought a new position in Micron Technology in the fourth quarter worth $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders sold a total of 46,174 shares of company stock worth $6,827,113 over the last quarter. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MU shares. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of Micron Technology in a report on Tuesday, June 25th. The Goldman Sachs Group upped their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Stifel Nicolaus raised their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, UBS Group dropped their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $157.12.

Micron Technology Stock Up 0.4 %

MU stock traded up $0.39 during mid-day trading on Wednesday, hitting $88.97. 5,513,334 shares of the company were exchanged, compared to its average volume of 21,293,365. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The firm’s 50 day simple moving average is $111.55 and its 200 day simple moving average is $114.87. The firm has a market cap of $98.65 billion, a P/E ratio of -62.38 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.57) EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

About Micron Technology

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.