First Hawaiian Bank Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

First Hawaiian Bank decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 25.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,399 shares of the semiconductor manufacturer’s stock after selling 3,231 shares during the period. First Hawaiian Bank’s holdings in Micron Technology were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Micron Technology by 23.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 838,814 shares of the semiconductor manufacturer’s stock valued at $57,065,000 after purchasing an additional 157,676 shares in the last quarter. Rathbones Group PLC purchased a new position in Micron Technology in the 3rd quarter valued at $334,000. V Square Quantitative Management LLC purchased a new position in Micron Technology in the 3rd quarter valued at $198,000. Clear Street Markets LLC lifted its holdings in 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 in the last quarter. Finally, Visionary Wealth Advisors lifted its holdings in Micron Technology by 148.1% in the 3rd quarter. Visionary Wealth Advisors now owns 11,770 shares of the semiconductor manufacturer’s stock valued at $801,000 after purchasing an additional 7,025 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MU. Wells Fargo & Company raised their target price on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Cantor Fitzgerald raised their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday. KeyCorp raised their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $98.00 to $130.00 in a research note on Monday, May 20th. Finally, Needham & Company LLC raised their target price on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.92.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $120.00, for a total value of $5,400,000.00. Following the completion of the transaction, the chief executive officer now owns 743,557 shares in the company, valued at approximately $89,226,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares in the company, valued at $89,226,840. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 320,446 shares of company stock worth $38,724,533. 0.32% of the stock is currently owned by company insiders.

Micron Technology Price Performance

NASDAQ MU opened at $153.45 on Thursday. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $125.23 and a two-hundred day moving average of $103.17. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the business posted ($2.03) EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.3 earnings per share for the current fiscal year.

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.