Micron Technology, Inc. (NASDAQ:MU) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,001 shares of the semiconductor manufacturer’s stock after selling 156 shares during the quarter. First Hawaiian Bank’s holdings in Micron Technology were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quest Partners LLC boosted its holdings in Micron Technology by 7,328.6% in the second quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock valued at $68,000 after purchasing an additional 513 shares in the last quarter. AGF Management Ltd. boosted its holdings in Micron Technology by 38.1% in the second quarter. AGF Management Ltd. now owns 18,449 shares of the semiconductor manufacturer’s stock valued at $2,427,000 after purchasing an additional 5,092 shares in the last quarter. LPL Financial LLC boosted its holdings in Micron Technology by 40.2% in the second quarter. LPL Financial LLC now owns 687,438 shares of the semiconductor manufacturer’s stock valued at $90,419,000 after purchasing an additional 196,949 shares in the last quarter. American Century Companies Inc. lifted its stake in Micron Technology by 158.8% in the second quarter. American Century Companies Inc. now owns 561,783 shares of the semiconductor manufacturer’s stock valued at $73,891,000 after buying an additional 344,720 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in Micron Technology in the second quarter valued at approximately $808,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of research reports. KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Cantor Fitzgerald reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James boosted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Stifel Nicolaus reduced their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company cut their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Down 0.1 %

Micron Technology stock opened at $99.34 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a market capitalization of $110.68 billion, a price-to-earnings ratio of 146.09 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock’s fifty day moving average is $98.68 and its two-hundred day moving average is $103.69.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.95) earnings per share. Analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

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.