2,623 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,623 shares of the semiconductor manufacturer's stock, valued at approximately $228,000.

Other large investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. boosted its stake in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after buying an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after buying an additional 28,621 shares during the period. Duquesne Family Office LLC acquired a new position in shares of Micron Technology in the fourth quarter worth $34,412,000. Finally, Janus Henderson Group PLC grew its stake in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after acquiring an additional 1,130,680 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. KGI Securities raised Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Citigroup boosted their price objective on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $129.00.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the transaction, the chief executive officer now directly owns 387,175 shares of the company's stock, valued at $42,929,964. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,904 shares of company stock worth $4,665,124. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock traded up $4.24 during midday trading on Monday, hitting $119.84. The company had a trading volume of 21,306,508 shares, compared to its average volume of 23,718,297. The stock has a market cap of $133.93 billion, a price-to-earnings ratio of 34.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company's 50 day simple moving average is $88.20 and its 200 day simple moving average is $92.53. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

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 (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the previous year, the company posted $0.42 EPS. Micron Technology's revenue was up 38.2% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 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.