Evercore Wealth Management LLC Buys Shares of 3,711 Micron Technology, Inc. (NASDAQ:MU)

Evercore Wealth Management LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MUFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,711 shares of the semiconductor manufacturer’s stock, valued at approximately $317,000.

Several other large investors have also recently bought and sold shares of the company. Jump Financial LLC acquired a new position in Micron Technology during the third quarter worth $208,000. Janney Montgomery Scott LLC boosted its holdings in Micron Technology by 28.1% during the third quarter. Janney Montgomery Scott LLC now owns 91,784 shares of the semiconductor manufacturer’s stock worth $6,244,000 after purchasing an additional 20,126 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Micron Technology during the third quarter worth $28,000. Huntington National Bank boosted its holdings in Micron Technology by 6.0% during the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after purchasing an additional 149 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in Micron Technology by 86.3% during the third quarter. Aptus Capital Advisors LLC now owns 6,480 shares of the semiconductor manufacturer’s stock worth $441,000 after purchasing an additional 3,001 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $95.64, for a total value of $669,480.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares in the company, valued at approximately $73,982,991.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $95.64, for a total value of $669,480.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares in the company, valued at approximately $73,982,991.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,446 shares of company stock worth $44,205,683. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $130.94 on Monday. The firm’s 50 day moving average is $122.04 and its 200 day moving average is $99.58. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $134.13.

Micron Technology (NASDAQ:MUGet Free Report) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same period last year, the company earned ($2.03) EPS. Sell-side analysts expect that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MU. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Barclays increased their price target on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Mizuho raised their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, UBS Group raised their target price on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.76.

View Our Latest Research Report on MU

Micron Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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