Oakworth Capital Inc. Has $897,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Oakworth Capital Inc. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 13.1% in the 1st quarter, HoldingsChannel reports. The fund owned 10,328 shares of the semiconductor manufacturer’s stock after selling 1,554 shares during the period. Oakworth Capital Inc.’s holdings in Micron Technology were worth $897,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Micron Technology in the fourth quarter worth $1,470,875,000. Capital World Investors grew its position in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. FMR LLC increased its stake in shares of Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the period. Capital Research Global Investors raised its position in shares of Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock worth $1,370,280,000 after acquiring an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after acquiring an additional 4,375,232 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $126.00 on Friday. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The firm has a market cap of $140.81 billion, a PE ratio of 22.70 and a beta of 1.28. The business has a 50 day moving average of $97.59 and a 200-day moving average of $94.05. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $137.39.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same period last year, the firm posted $0.62 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,404 shares of company stock worth $8,509,167. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday. KeyCorp upped their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen increased their price target on Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald boosted their price target on Micron Technology from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC raised their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.67.

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.