Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,016 shares of the semiconductor manufacturer’s stock after selling 415 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Micron Technology were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology in the third quarter valued at about $28,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology during the third quarter worth $27,000. VisionPoint Advisory Group LLC raised its holdings 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 purchasing an additional 198 shares during the period. Cape Investment Advisory Inc. raised its holdings in shares of Micron Technology by 51.0% during the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 200 shares during the period. Finally, Clear Street Markets LLC grew its position in shares of Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 251 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $68,620,230.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total value of $609,140.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $68,620,230.14. The disclosure for this sale can be found here. Insiders sold 306,890 shares of company stock valued at $33,005,157 over the last three months. 0.32% of the stock is owned by corporate insiders.

Micron Technology Trading Down 2.5 %

MU stock traded down $2.81 during mid-day trading on Wednesday, reaching $109.65. 10,709,583 shares of the stock traded hands, compared to its average volume of 20,460,926. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The company has a market cap of $121.42 billion, a P/E ratio of -32.10 and a beta of 1.27. The stock’s fifty day moving average is $104.04 and its 200-day moving average is $87.52.

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

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on MU. KeyCorp upped their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Mizuho upped their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Citigroup restated a “buy” rating and set a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Finally, StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.