Alerus Financial NA Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Alerus Financial NA lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.7% during the fourth quarter, Holdings Channel reports. The firm owned 47,353 shares of the semiconductor manufacturer’s stock after selling 3,390 shares during the quarter. Alerus Financial NA’s holdings in Micron Technology were worth $3,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beacon Capital Management LLC lifted its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology in the 4th quarter worth approximately $33,000. Activest Wealth Management lifted its stake in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 1.1 %

MU stock opened at $91.16 on Friday. The business’s 50-day moving average price is $96.35 and its 200-day moving average price is $98.36. The stock has a market cap of $101.88 billion, a P/E ratio of 26.27 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Barclays boosted their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Mizuho decreased their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup reduced their price objective on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

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.