First Hawaiian Bank Trims Stock Position in Micron Technology, Inc. (NASDAQ:MU)

First Hawaiian Bank trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,001 shares of the semiconductor manufacturer’s stock after selling 156 shares during the quarter. First Hawaiian Bank’s holdings in Micron Technology were worth $505,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth about $26,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the third quarter valued at about $30,000. True Wealth Design LLC grew its stake in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares in the last quarter. DT Investment Partners LLC grew its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC grew its stake in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Down 0.1 %

Shares of NASDAQ MU opened at $99.34 on Friday. The company has a market cap of $110.68 billion, a price-to-earnings ratio of 146.09 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $98.68 and its 200 day simple moving average is $103.69.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.95) EPS. Equities research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MU. KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Citigroup lowered their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Susquehanna lowered their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Sanford C. Bernstein lowered their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

About Micron Technology

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.