CHICAGO TRUST Co NA Sells 2,381 Shares of Micron Technology, Inc. (NASDAQ:MU)

CHICAGO TRUST Co NA lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 33.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,820 shares of the semiconductor manufacturer's stock after selling 2,381 shares during the quarter. CHICAGO TRUST Co NA's holdings in Micron Technology were worth $419,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Micron Technology during the 4th quarter valued at approximately $1,470,875,000. Capital World Investors lifted its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. FMR LLC lifted its position in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors grew its position in shares of Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after acquiring an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after buying an additional 4,375,232 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

MU stock traded up $3.19 during trading on Tuesday, reaching $114.14. 22,836,301 shares of the stock were exchanged, compared to its average volume of 23,617,060. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month 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 company has a market capitalization of $127.56 billion, a P/E ratio of 32.89 and a beta of 1.28. The stock has a 50 day simple moving average of $84.42 and a 200-day simple moving average of $92.11.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on MU shares. Wall Street Zen cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. UBS Group upped their price target on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.00.

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.