First National Bank of Hutchinson Acquires 2,213 Shares of Micron Technology, Inc. (NASDAQ:MU)

First National Bank of Hutchinson grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 34.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,665 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,213 shares during the period. First National Bank of Hutchinson’s holdings in Micron Technology were worth $899,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. Capital International Investors boosted its position in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Swedbank AB boosted its position in shares of Micron Technology by 473.8% in the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares during the period. 1832 Asset Management L.P. increased its holdings in Micron Technology by 301,500.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after acquiring an additional 1,809,000 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Micron Technology by 28.9% during the 1st quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after acquiring an additional 1,695,876 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of a number of research analyst reports. TD Cowen upped their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. KeyCorp cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Activity

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

Micron Technology Stock Down 2.6 %

Shares of NASDAQ:MU opened at $105.05 on Thursday. The firm has a market capitalization of $116.48 billion, a P/E ratio of -73.98 and a beta of 1.18. 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 stock has a 50 day moving average price of $99.23 and a 200-day moving average price of $114.10. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results 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. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) EPS. The company’s revenue was up 93.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.