Arvest Bank Trust Division Acquires 22,631 Shares of Micron Technology, Inc. (NASDAQ:MU)

Arvest Bank Trust Division boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 229,033 shares of the semiconductor manufacturer’s stock after buying an additional 22,631 shares during the period. Micron Technology makes up about 1.2% of Arvest Bank Trust Division’s investment portfolio, making the stock its 24th largest position. Arvest Bank Trust Division’s holdings in Micron Technology were worth $19,275,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% in the fourth 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 in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $33,000. Activest Wealth Management lifted its holdings in shares of Micron Technology by 583.3% during the 4th 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 period. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $34,000. Finally, Curio Wealth LLC bought a new stake in Micron Technology in the fourth quarter valued at about $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Down 2.4 %

Shares of MU stock opened at $69.33 on Thursday. The stock has a market capitalization of $77.48 billion, a price-to-earnings ratio of 19.98 and a beta of 1.18. The company’s fifty day simple moving average is $89.28 and its two-hundred day simple moving average is $96.38. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 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 during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.66%. Micron Technology’s payout ratio is 11.03%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on MU shares. Wells Fargo & Company dropped their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Morgan Stanley lifted their price target on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. UBS Group upped their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Piper Sandler dropped their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Barclays boosted their target price on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.36.

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.