Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,753 shares of the semiconductor manufacturer’s stock after selling 697 shares during the quarter. Hancock Whitney Corp’s holdings in Micron Technology were worth $1,283,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth $28,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the first quarter valued at about $25,000. Valued Wealth Advisors LLC increased its stake in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC raised its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. Finally, LRI Investments LLC lifted its stake in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of research analyst reports. Raymond James dropped their target price on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Wells Fargo & Company reduced their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of Micron Technology in a report on Tuesday, June 25th. Finally, Robert W. Baird boosted their price objective on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Stock Up 1.8 %

MU stock opened at $90.90 on Monday. The firm has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The firm has a fifty day moving average price of $99.81 and a two-hundred day moving average price of $114.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company earned ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

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.