CENTRAL TRUST Co Has $298,000 Position in Micron Technology, Inc. (NASDAQ:MU)

CENTRAL TRUST Co decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,878 shares of the semiconductor manufacturer’s stock after selling 113 shares during the period. CENTRAL TRUST Co’s holdings in Micron Technology were worth $298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Micron Technology by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,479 shares of the semiconductor manufacturer’s stock worth $9,016,000 after purchasing an additional 9,179 shares during the period. Independence Bank of Kentucky acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $127,000. Hennion & Walsh Asset Management Inc. bought a new stake in Micron Technology in the 1st quarter valued at $273,000. Cornerstone Wealth Group LLC acquired a new stake in Micron Technology during the 1st quarter valued at $218,000. Finally, Breakwater Capital Group bought a new position in Micron Technology during the first quarter worth $230,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $107.91 on Friday. The company’s 50 day moving average price is $99.22 and its two-hundred day moving average price is $113.95. The firm has a market capitalization of $119.66 billion, a P/E ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

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 analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.21) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MU. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Raymond James lifted their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. TD Cowen upped their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird dropped 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, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.85.

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.