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

Bank of Hawaii reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.7% in the 3rd quarter, Holdings Channel reports. The institutional investor 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 SEC filing.

Other hedge funds have also modified their holdings of the company. Atria Investments Inc boosted its position in 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 acquiring an additional 93 shares during the last quarter. Aspect Partners LLC lifted its position in shares of Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares during the last quarter. Stonebrook Private Inc. grew its position in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

Micron Technology Trading Down 0.1 %

MU stock opened at $102.64 on Monday. Micron Technology, Inc. has a 52 week low of $72.93 and a 52 week high of $157.54. The company has a market capitalization of $113.80 billion, a PE ratio of 150.94 and a beta of 1.18. The company’s 50-day simple moving average is $102.46 and its 200 day simple moving average is $112.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

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

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Rosenblatt Securities raised their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Wells Fargo & Company lowered their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. China Renaissance assumed coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. One research 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, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology 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.