Community Bank & Trust Waco Texas Has $1.58 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Community Bank & Trust Waco Texas trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 32.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,467 shares of the semiconductor manufacturer’s stock after selling 9,053 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Micron Technology were worth $1,576,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 0.3% during the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after buying an additional 305,860 shares during the last quarter. FMR LLC grew its holdings in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley grew its holdings in shares of Micron Technology by 19.7% during the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after buying an additional 2,852,688 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU stock traded down $2.58 during midday trading on Wednesday, reaching $109.88. The company had a trading volume of 10,461,177 shares, compared to its average volume of 20,452,990. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The company has a market capitalization of $121.68 billion, a P/E ratio of -32.10 and a beta of 1.27. The firm has a 50-day moving average price of $104.04 and a 200-day moving average price of $87.52.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the company earned ($2.03) EPS. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Activity

In other news, 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 sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total transaction of $609,140.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $68,620,230.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,890 shares of company stock valued at $33,005,157. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Piper Sandler boosted their price target on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. UBS Group boosted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Wedbush boosted their price target on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.20.

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.