First Interstate Bank Buys New Holdings in Micron Technology, Inc. (NASDAQ:MU)

First Interstate Bank bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,500 shares of the semiconductor manufacturer’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $25,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Micron Technology during the third quarter worth about $28,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Micron Technology during the second quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC increased its position in shares of Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MU shares. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. Wedbush lifted their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Needham & Company LLC lifted their target price on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Mizuho lifted their target price on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.20.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,890 shares of company stock worth $32,772,127. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $0.92 during midday trading on Wednesday, hitting $120.85. 3,861,397 shares of the company’s stock were exchanged, compared to its average volume of 19,985,594. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock’s 50 day moving average price is $101.36 and its 200-day moving average price is $86.01. The firm has a market cap of $133.83 billion, a P/E ratio of -35.30 and a beta of 1.27. Micron Technology, Inc. has a twelve month low of $58.03 and a twelve month high of $130.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.03) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio is presently -13.33%.

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.