Citizens National Bank Trust Department Grows Position in Micron Technology, Inc. $MU

Key Points

• Citizens National Bank Trust Department increased its position in Micron Technology shares by 9.8%, bringing its total holdings to 15,595 shares valued at approximately $1.9 million.
• Multiple institutional investors have shown increased interest in Micron, boosting their stakes, with 80.84% of the shares now held by institutional investors.
• Analysts are bullish on Micron Technology, with price targets being revised upwards significantly, and the company currently holds a consensus rating of "Buy" and a target price of $189.37.

Citizens National Bank Trust Department increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,595 shares of the semiconductor manufacturer's stock after acquiring an additional 1,393 shares during the quarter. Citizens National Bank Trust Department's holdings in Micron Technology were worth $1,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MU. Brighton Jones LLC boosted its stake in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Micron Technology by 36.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer's stock worth $357,000 after acquiring an additional 1,102 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Micron Technology by 17.4% during the 1st quarter. Park Avenue Securities LLC now owns 30,191 shares of the semiconductor manufacturer's stock worth $2,623,000 after acquiring an additional 4,480 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Micron Technology by 17.6% during the 1st quarter. Capital Investment Advisors LLC now owns 7,429 shares of the semiconductor manufacturer's stock valued at $645,000 after acquiring an additional 1,112 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its holdings in shares of Micron Technology by 12.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 413 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC upped their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Wolfe Research upped their target price on shares of Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Piper Sandler lifted their price target on Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Itau BBA Securities initiated coverage on Micron Technology in a research note on Tuesday. They set an "outperform" rating and a $249.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Buy" and a consensus price target of $189.37.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the sale, the executive vice president directly owned 131,580 shares of the company's stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 21,563 shares of the company's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the completion of the transaction, the chief executive officer owned 272,648 shares in the company, valued at $51,385,968.56. This represents a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,956 shares of company stock valued at $22,841,025. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 2.8%

Shares of NASDAQ MU opened at $185.69 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $201.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The company has a market cap of $208.43 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 0.42 and a beta of 1.56. The business's 50 day moving average price is $137.96 and its 200-day moving average price is $112.01.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is 6.06%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.