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

Hancock Whitney Corp lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,006 shares of the semiconductor manufacturer’s stock after selling 606 shares during the quarter. Hancock Whitney Corp’s holdings in Micron Technology were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Trivant Custom Portfolio Group LLC boosted its holdings in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares during the period. Xcel Wealth Management LLC lifted its position in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. boosted its stake in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC grew its holdings in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 3.0 %

NASDAQ:MU opened at $79.78 on Friday. The firm has a market capitalization of $89.16 billion, a P/E ratio of 22.99 and a beta of 1.18. The business has a 50 day simple moving average of $85.71 and a 200 day simple moving average of $94.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.58%. Micron Technology’s payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MU. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup lowered their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. Finally, Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.56.

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.