Bank of Hawaii Has $2.65 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Bank of Hawaii reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,529 shares of the semiconductor manufacturer’s stock after selling 1,536 shares during the quarter. Bank of Hawaii’s holdings in Micron Technology were worth $2,648,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Investments Inc raised its stake in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after acquiring an additional 98 shares during the last quarter. Stonebrook Private Inc. increased its stake in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value 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 approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 0.1 %

Shares of NASDAQ MU opened at $102.64 on Monday. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The firm has a market capitalization of $113.80 billion, a P/E ratio of 150.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company’s 50 day simple moving average is $102.46 and its 200 day simple moving average is $112.13.

Micron Technology (NASDAQ:MU) last posted 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 return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the business posted ($1.21) EPS. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on MU shares. Raymond James upped their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. China Renaissance assumed 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 on the stock. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Finally, UBS Group dropped their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $143.04.

About Micron Technology

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.