Bokf Na Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Bokf Na cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 41.9% in the first quarter, Holdings Channel.com reports. The firm owned 75,489 shares of the semiconductor manufacturer’s stock after selling 54,442 shares during the quarter. Bokf Na’s holdings in Micron Technology were worth $9,383,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Capital World Investors boosted its stake in shares of Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the period. Sanders Capital LLC boosted its stake in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares during the period. Capital International Investors boosted its stake in shares of Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Finally, Norges Bank purchased a new position in shares of Micron Technology during the 4th quarter worth about $769,372,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,730 shares of company stock worth $29,435,039. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 1.8 %

Shares of Micron Technology stock traded up $1.96 during trading on Friday, reaching $109.41. The company’s stock had a trading volume of 18,547,885 shares, compared to its average volume of 22,686,388. The company has a 50-day simple moving average of $131.01 and a two-hundred day simple moving average of $112.04. Micron Technology, Inc. has a 1-year low of $61.75 and a 1-year high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a market cap of $121.32 billion, a price-to-earnings ratio of -77.05 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the firm posted ($1.57) EPS. The firm’s revenue was up 81.5% compared to the same quarter last year. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology’s payout ratio is currently -32.39%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Susquehanna lifted their price target on shares of Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. KeyCorp upped their target price on shares of Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a report on Thursday, June 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.72.

About Micron Technology

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.