Greenleaf Trust Has $2.67 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Greenleaf Trust raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,775 shares of the semiconductor manufacturer’s stock after acquiring an additional 499 shares during the period. Greenleaf Trust’s holdings in Micron Technology were worth $2,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Harmony Asset Management LLC raised its holdings in shares of Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after buying an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its holdings in shares of Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after buying an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after buying an additional 40,802 shares in the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $569,000. Finally, State Street Corp raised its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the subject of a number of research analyst reports. Robert W. Baird lowered their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald lowered their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 1.4 %

Shares of NASDAQ:MU opened at $91.24 on Monday. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a market cap of $101.66 billion, a PE ratio of 26.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock’s 50-day moving average is $97.43 and its 200 day moving average is $99.88.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) EPS. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.