Trustmark National Bank Trust Department Sells 10,927 Shares of Micron Technology, Inc. (NASDAQ:MU)

Trustmark National Bank Trust Department trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 79.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,823 shares of the semiconductor manufacturer’s stock after selling 10,927 shares during the period. Trustmark National Bank Trust Department’s holdings in Micron Technology were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the 2nd quarter valued at about $28,000. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter worth approximately $30,000. Richard W. Paul & Associates LLC lifted its stake in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC lifted its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. KeyCorp reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Rosenblatt Securities upped their target price on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Trading Up 4.1 %

NASDAQ MU opened at $102.43 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $113.57 billion, a price-to-earnings ratio of 150.63 and a beta of 1.18. The company’s 50-day simple moving average is $102.23 and its two-hundred day simple moving average is $112.35. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

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

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Micron Technology 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.