M&T Bank Corp Has $7 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

M&T Bank Corp decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,493 shares of the semiconductor manufacturer’s stock after selling 806 shares during the quarter. M&T Bank Corp’s holdings in Micron Technology were worth $7,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Allspring Global Investments Holdings LLC increased its stake in shares of Micron Technology by 2.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 495,006 shares of the semiconductor manufacturer’s stock valued at $65,108,000 after acquiring an additional 12,975 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Micron Technology by 8.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 179,754 shares of the semiconductor manufacturer’s stock worth $23,643,000 after buying an additional 13,950 shares during the period. Atomi Financial Group Inc. boosted its holdings in Micron Technology by 77.0% in the second quarter. Atomi Financial Group Inc. now owns 10,786 shares of the semiconductor manufacturer’s stock worth $1,419,000 after acquiring an additional 4,693 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Micron Technology by 28.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,792 shares of the semiconductor manufacturer’s stock valued at $499,000 after acquiring an additional 839 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Micron Technology during the second quarter valued at approximately $232,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU opened at $90.12 on Monday. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock’s fifty day moving average price is $103.14 and its two-hundred day moving average price is $108.54. The firm has a market cap of $100.40 billion, a PE ratio of 132.53 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.95) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio is 13.26%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MU. Raymond James increased their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $135.24.

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.