MidWestOne Financial Group Inc. Acquires 619 Shares of Micron Technology, Inc. (NASDAQ:MU)

MidWestOne Financial Group Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 52,688 shares of the semiconductor manufacturer’s stock after purchasing an additional 619 shares during the quarter. Micron Technology accounts for approximately 0.6% of MidWestOne Financial Group Inc.’s portfolio, making the stock its 27th largest position. MidWestOne Financial Group Inc.’s holdings in Micron Technology were worth $4,434,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MU. Beacon Capital Management LLC raised its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter valued at $33,000. Activest Wealth Management raised its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology during the fourth quarter worth $34,000. Finally, Curio Wealth LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $34,000. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,808 shares of company stock valued at $1,858,424 over the last three months. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MU. Citigroup dropped their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, April 11th. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Barclays dropped their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $126.48.

Micron Technology Stock Down 0.6%

NASDAQ:MU opened at $98.10 on Wednesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $109.63 billion, a price-to-earnings ratio of 28.27 and a beta of 1.21. The stock has a 50-day moving average price of $83.25 and a two-hundred day moving average price of $92.59.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was up 38.2% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.