OLD National Bancorp IN Buys 2,715 Shares of Micron Technology, Inc. (NASDAQ:MU)

Posted by Defense World Staff on Apr 25th, 2023

OLD National Bancorp IN raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 38.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,705 shares of the semiconductor manufacturer’s stock after buying an additional 2,715 shares during the quarter. OLD National Bancorp IN’s holdings in Micron Technology were worth $485,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Stonebridge Capital Advisors LLC raised its holdings in shares of Micron Technology by 6.6% in the first quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $210,000 after purchasing an additional 168 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Micron Technology by 4.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,703 shares of the semiconductor manufacturer’s stock worth $236,000 after buying an additional 181 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Micron Technology by 3.5% in the 1st quarter. Evergreen Capital Management LLC now owns 5,682 shares of the semiconductor manufacturer’s stock worth $443,000 after buying an additional 191 shares during the last quarter. Beta Wealth Group Inc. grew its holdings in shares of Micron Technology by 4.4% in the third quarter. Beta Wealth Group Inc. now owns 4,700 shares of the semiconductor manufacturer’s stock valued at $235,000 after acquiring an additional 200 shares in the last quarter. Finally, Adviser Investments LLC increased its position in shares of Micron Technology by 2.9% during the fourth quarter. Adviser Investments LLC now owns 6,983 shares of the semiconductor manufacturer’s stock valued at $405,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on Micron Technology from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, March 29th. Raymond James assumed coverage on shares of Micron Technology in a research report on Wednesday, March 1st. They set an “outperform” rating and a $70.00 target price for the company. Argus cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 30th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 29th. Finally, Susquehanna boosted their target price on Micron Technology from $65.00 to $90.00 and gave the company a “positive” rating in a research note on Wednesday, March 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.59.

Micron Technology Stock Performance

Micron Technology stock opened at $59.51 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $48.43 and a fifty-two week high of $75.41. The firm’s fifty day moving average price is $59.03 and its 200-day moving average price is $57.10. The stock has a market cap of $65.13 billion, a P/E ratio of 42.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.62 and a current ratio of 4.17.

Micron Technology (NASDAQ:MU – Get Rating) last issued its quarterly earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.16). Micron Technology had a net margin of 6.99% and a return on equity of 3.98%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The firm’s revenue was down 52.6% on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post -5.27 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Monday, April 10th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $0.46 dividend on an annualized basis and a yield of 0.77%. Micron Technology’s dividend payout ratio (DPR) is currently 33.09%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total transaction of $1,244,600.00. Following the completion of the sale, the executive vice president now owns 248,340 shares of the company’s stock, valued at approximately $15,454,198.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $62.23, for a total value of $1,244,600.00. Following the sale, the executive vice president now directly owns 248,340 shares in the company, valued at approximately $15,454,198.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP April S. Arnzen sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $61.91, for a total value of $1,485,840.00. Following the transaction, the senior vice president now owns 118,885 shares of the company’s stock, valued at approximately $7,360,170.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,000 shares of company stock worth $6,261,240. 0.33% of the stock is currently owned by insiders.

Micron Technology Profile

(Get Rating)

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.