Parkside Financial Bank & Trust Sells 415 Shares of Micron Technology, Inc. (NASDAQ:MU)

Parkside Financial Bank & Trust lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. California Public Employees Retirement System raised its holdings in shares of Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after buying an additional 2,523,267 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $5,623,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $398,000. Handelsbanken Fonder AB raised its holdings in shares of Micron Technology by 24.1% in the 4th quarter. Handelsbanken Fonder AB now owns 410,710 shares of the semiconductor manufacturer’s stock worth $35,050,000 after buying an additional 79,749 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Micron Technology by 5.8% in the 4th quarter. CWM LLC now owns 21,522 shares of the semiconductor manufacturer’s stock worth $1,837,000 after buying an additional 1,175 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 2.5 %

NASDAQ MU traded down $2.81 on Wednesday, reaching $109.65. The company had a trading volume of 10,709,583 shares, compared to its average volume of 20,460,926. The stock’s 50 day moving average is $104.04 and its 200-day moving average is $87.52. The stock has a market cap of $121.42 billion, a price-to-earnings ratio of -32.10 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 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.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors 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 annualized dividend and a yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 306,890 shares of company stock worth $33,005,157 in the last ninety days. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MU. Piper Sandler raised their price target on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Morgan Stanley upped their target price on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus reissued a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. Barclays increased their price target on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, Citigroup reaffirmed a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a report on Thursday, April 4th. One investment 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 MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

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.