Micron Technology, Inc. $MU Shares Acquired by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,428 shares of the semiconductor manufacturer’s stock after purchasing an additional 805 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Micron Technology were worth $423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC boosted its holdings in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $36,000. Hilltop National Bank purchased a new stake in shares of Micron Technology during the 2nd quarter valued at approximately $37,000. Finally, Saudi Central Bank purchased a new stake in shares of Micron Technology during the 1st quarter valued at approximately $38,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the sale, the executive vice president owned 131,580 shares of the company’s stock, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the sale, the director directly owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,456 shares of company stock worth $15,698,445 in the last ninety days. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Up 2.2%

Shares of NASDAQ MU opened at $187.83 on Friday. The firm has a market cap of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56. 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 business’s 50 day moving average is $134.89 and its two-hundred day moving average is $110.76.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC lifted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Susquehanna lifted their price target on shares of Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, September 17th. Wall Street Zen lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Raymond James Financial lifted their price target on shares of Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $184.77.

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.