Fulton Bank NA increased position in Micron Technology, Inc.  (NASDAQ:MU)


Fulton Bank NA raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 3.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,493 shares of the semiconductor maker’s stock after buying an additional 210 shares during the quarter. Fulton Bank NA’s holdings in Micron Technology were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology during the third quarter valued at $28,000. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter worth about $27,000. VisionPoint Advisory Group LLC boosted its position in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in Micron Technology in the second quarter worth about $32,000. Finally, Fortis Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter worth about $25,000. 79.25% of the shares are owned by hedge funds and other institutional investors.

Wall Street analysts predict growth

MU has been the subject of several research reports. Bank of America raised their target price on Micron Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Susquehanna raised their price objective on Micron Technology from $90.00 to $112.00 and gave the stock a “positive” rating in a research note on Monday, December 18th. Needham & Company LLC raised their price objective on Micron Technology from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Citigroup lifted their price objective on Micron Technology from $95.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TD Cowen lifted their price objective on Micron Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and an average price target of $100.27, according to data from MarketBeat.com.

Check out our latest Stock Report on Micron Technology

Micron Technology Stock Performance

NASDAQ MU opened at $93.25 on Friday. The stock has a market capitalization of $102.94 billion, a PE ratio of -14.85 and a beta of 1.24. The business has a 50 day simple moving average of $87.50 and a two hundred day simple moving average of $78.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.53, and a quick ratio of 2.14. Micron Technology, Inc. it has a 1-year low of $53.61 and a 1-year high of $101.85.

Micron Technology (NASDAQ: MU – Get Your Free Report ) last announced its earnings results on Wednesday, December 20th. The semiconductor maker reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.06. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Micron Technology had a negative return on equity of 14.44% and a negative net margin of 42.47%. The company’s quarterly revenue was up 15.7% year over year. During the same quarter a year ago, the business earned ($0.15) EPS. On average, research analysts predict that Micron Technology, Inc. will post -0.86 EPS for the current fiscal year.

Micron Technology announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Tuesday, January 2nd were given a dividend of $0.115 per share. This represents a dividend of $0.46 on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, December 29th. Micron Technology’s payout ratio is currently -7.32%.

Insider activity at Micron Technology

In related news, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the transaction, the executive vice president now owns 203,342 shares in the company, valued at approximately $17,739,556.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Micron Technology news, EVP Scott J. Deboer sold 28,228 shares of Micron Technology stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the sale, the executive vice president now directly owns 203,342 shares of the company’s stock, valued at approximately $17,739,556.08. The sale was disclosed in an SEC filing, which is available on the SEC’s website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $95.64, for a total value of $669,480.00. Following the sale, the chief executive officer now directly owns 773,557 shares of the company’s stock, valued at $73,982,991.48. Disclosure for this sale can be found here. Insiders sold a total of 209,228 shares of company stock worth $18,854,501 in the last quarter. 0.32% of shares are owned by company insiders.

Micron Technology Profile

(Free Report)

Micron Technology, Inc designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It provides memory and storage technologies that include low-latency dynamic random-access memory semiconductor devices that ensure high-speed data acquisition; non-volatile and rewritable semiconductor storage devices; and rewritable non-volatile semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands as well as through private label.

See also

Want to see what other hedge funds MU is holding? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Micron Technology, Inc. ( NASDAQ:MU – Free Report ).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)



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