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

Hancock Whitney Corp cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,450 shares of the semiconductor manufacturer’s stock after selling 1,625 shares during the period. Hancock Whitney Corp’s holdings in Micron Technology were worth $1,232,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI purchased a new position in shares of Micron Technology in the fourth quarter valued at approximately $205,000. Drive Wealth Management LLC grew its holdings in shares of Micron Technology by 8.5% during the fourth quarter. Drive Wealth Management LLC now owns 4,276 shares of the semiconductor manufacturer’s stock worth $365,000 after buying an additional 336 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of Micron Technology in the fourth quarter worth about $202,000. Beacon Financial Advisory LLC acquired a new position in Micron Technology during the fourth quarter worth about $216,000. Finally, Braun Stacey Associates Inc. grew its stake in Micron Technology by 45.7% during the 4th quarter. Braun Stacey Associates Inc. now owns 243,244 shares of the semiconductor manufacturer’s stock valued at $20,759,000 after acquiring an additional 76,343 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU traded down $7.51 during trading on Friday, reaching $94.00. The company’s stock had a trading volume of 11,247,131 shares, compared to its average volume of 21,031,572. The business’s fifty day moving average price is $129.26 and its 200-day moving average price is $112.47. Micron Technology, Inc. has a twelve month low of $61.75 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a market cap of $104.23 billion, a price-to-earnings ratio of -66.56 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the business posted ($1.57) EPS. The company’s revenue was up 81.5% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 13,239 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the transaction, the executive vice president now owns 260,857 shares in the company, valued at $30,981,985.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $120.32, for a total value of $842,240.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,515,975.68. The disclosure for this sale can be found here. In the last three months, insiders sold 174,730 shares of company stock valued at $22,485,299. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. UBS Group reduced their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Finally, Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Two 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

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.