Dorsey & Whitney Trust CO LLC Acquires 12,701 Shares of Micron Technology, Inc. (NASDAQ:MU)

Dorsey & Whitney Trust CO LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 124.7% in the 4th quarter, HoldingsChannel reports. The firm owned 22,888 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,701 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Micron Technology were worth $1,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. Beacon Capital Management LLC raised its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $39,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $33,000. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MU shares. Piper Sandler decreased their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company decreased their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. UBS Group decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Price Performance

MU opened at $92.96 on Friday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $95.99 and its 200-day simple moving average is $98.36. The company has a market capitalization of $103.57 billion, a price-to-earnings ratio of 26.79 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company earned ($0.95) EPS. The business’s revenue was up 84.3% compared to the same quarter last year. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

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.