Huntington National Bank Sells 741 Shares of Micron Technology, Inc. (MU)

Huntington National Bank lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 45.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 902 shares of the semiconductor manufacturer’s stock after selling 741 shares during the period. Huntington National Bank’s holdings in Micron Technology were worth $37,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MU. Kings Point Capital Management lifted its holdings in shares of Micron Technology by 21.8% in the fourth quarter. Kings Point Capital Management now owns 1,575 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 282 shares in the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of Micron Technology by 29.6% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,387 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 317 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Micron Technology by 1.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 26,666 shares of the semiconductor manufacturer’s stock valued at $846,000 after purchasing an additional 361 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Micron Technology by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 3,589 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 474 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC lifted its holdings in shares of Micron Technology by 11.1% in the fourth quarter. WESPAC Advisors SoCal LLC now owns 4,887 shares of the semiconductor manufacturer’s stock valued at $155,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

A number of research analysts have recently weighed in on MU shares. Needham & Company LLC lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. KeyCorp dropped their price target on Micron Technology from $61.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, December 19th. BidaskClub upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Citigroup lowered Micron Technology from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $35.00 to $30.00 in a report on Thursday, March 21st. Finally, Piper Jaffray Companies dropped their price target on Micron Technology to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, December 19th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the stock. Micron Technology has an average rating of “Hold” and an average target price of $55.85.

In other news, SVP Joel L. Poppen sold 20,210 shares of Micron Technology stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.45, for a total value of $837,704.50. Following the completion of the transaction, the senior vice president now directly owns 269,368 shares in the company, valued at $11,165,303.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP April S. Arnzen sold 21,182 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total value of $834,358.98. Following the completion of the transaction, the senior vice president now owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The disclosure for this sale can be found here. Insiders sold 55,878 shares of company stock valued at $2,293,223 over the last three months. Company insiders own 0.20% of the company’s stock.

NASDAQ:MU opened at $43.15 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $64.66. The firm has a market capitalization of $46.28 billion, a price-to-earnings ratio of 3.65, a PEG ratio of 1.05 and a beta of 1.87.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the business posted $2.82 earnings per share. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 6.27 EPS for the current fiscal year.

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Micron Technology Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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