Webster Bank N. A. Purchases 720 Shares of Micron Technology, Inc. (NASDAQ:MU)

Webster Bank N. A. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 679.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 826 shares of the semiconductor manufacturer’s stock after purchasing an additional 720 shares during the period. Webster Bank N. A.’s holdings in Micron Technology were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Factory Mutual Insurance Co. raised its stake in shares of Micron Technology by 193.1% during the third quarter. Factory Mutual Insurance Co. now owns 85,745 shares of the semiconductor manufacturer’s stock valued at $8,893,000 after acquiring an additional 56,495 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Micron Technology by 219.6% during the third quarter. Exchange Traded Concepts LLC now owns 5,290 shares of the semiconductor manufacturer’s stock valued at $549,000 after acquiring an additional 3,635 shares in the last quarter. HCR Wealth Advisors purchased a new position in Micron Technology during the third quarter valued at approximately $245,000. Silverlake Wealth Management LLC increased its holdings in Micron Technology by 59.9% during the third quarter. Silverlake Wealth Management LLC now owns 2,936 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,100 shares during the period. Finally, First Affirmative Financial Network increased its holdings in Micron Technology by 15.4% during the third quarter. First Affirmative Financial Network now owns 3,627 shares of the semiconductor manufacturer’s stock valued at $376,000 after buying an additional 484 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 1.2 %

MU stock opened at $106.92 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 52-week low of $63.88 and a 52-week high of $157.54. The company has a 50-day moving average of $96.76 and a two-hundred day moving average of $114.85. The stock has a market capitalization of $118.56 billion, a price-to-earnings ratio of -75.30 and a beta of 1.18.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s payout ratio is presently -32.39%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MU shares. Wolfe Research lifted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. UBS Group reduced their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Morgan Stanley raised their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Citigroup lowered their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

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.