MidWestOne Financial Group Inc. Has $4.96 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

MidWestOne Financial Group Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,705 shares of the semiconductor manufacturer’s stock after selling 1,569 shares during the period. Micron Technology comprises about 0.9% of MidWestOne Financial Group Inc.’s investment portfolio, making the stock its 15th largest holding. MidWestOne Financial Group Inc.’s holdings in Micron Technology were worth $4,959,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. DecisionPoint Financial LLC bought a new stake in Micron Technology in the 1st quarter valued at $25,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the second quarter valued at about $28,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $29,000. Valued Wealth Advisors LLC grew its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Finally, Richard W. Paul & Associates LLC grew its holdings in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $107.50 on Friday. The stock’s fifty day moving average price is $97.63 and its two-hundred day moving average price is $114.69. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.21) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MU shares. Rosenblatt Securities boosted their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen boosted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday. Robert W. Baird reduced their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group lowered their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.38.

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.