Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,127 shares of the semiconductor manufacturer’s stock after purchasing an additional 736 shares during the period. Community Bank & Trust Waco Texas’ holdings in Micron Technology were worth $1,984,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC raised its holdings in shares of Micron Technology by 26.4% during the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after acquiring an additional 40,802 shares during the period. Clearbridge Investments LLC boosted its position in shares of Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after buying an additional 20,741 shares during the period. Global X Japan Co. Ltd. raised its position in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after buying an additional 9,735 shares during the period. River Road Asset Management LLC lifted its stake in Micron Technology by 9.1% in the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock worth $16,933,000 after acquiring an additional 13,573 shares in the last quarter. Finally, RWQ Financial Management Services Inc. purchased a new position in Micron Technology during the 3rd quarter valued at about $1,270,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $104.10 on Wednesday. The business has a 50-day simple moving average of $100.41 and a two-hundred day simple moving average of $113.11. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market cap of $115.42 billion, a PE ratio of 153.09 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period last year, the company earned ($1.21) EPS. Analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

MU has been the topic of several research reports. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Robert W. Baird lowered their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Rosenblatt Securities lifted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.04.

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.