Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Zhang Financial LLC

Zhang Financial LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,940 shares of the semiconductor manufacturer’s stock after selling 2,908 shares during the period. Zhang Financial LLC’s holdings in Micron Technology were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. boosted its position in shares of Micron Technology by 12.8% during the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock worth $27,314,000 after purchasing an additional 39,693 shares during the period. Prudential PLC purchased a new position in shares of Micron Technology during the 1st quarter worth approximately $1,672,000. Brighton Jones LLC boosted its position in shares of Micron Technology by 12.3% during the 1st quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock worth $227,000 after purchasing an additional 318 shares during the period. Baird Financial Group Inc. boosted its position in Micron Technology by 9.2% in the 1st quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock valued at $15,611,000 after buying an additional 16,953 shares during the period. Finally, Zions Bancorporation N.A. grew its stake in shares of Micron Technology by 52.5% in the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after acquiring an additional 730 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders sold 313,890 shares of company stock valued at $33,617,027. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Citigroup reiterated a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. TD Cowen boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Bank of America boosted their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Cantor Fitzgerald increased their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Down 4.3 %

Micron Technology stock traded down $4.83 during midday trading on Friday, hitting $107.10. 21,335,815 shares of the stock were exchanged, compared to its average volume of 20,460,953. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The firm has a market cap of $118.60 billion, a P/E ratio of -31.17 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a 50 day moving average price of $102.53 and a two-hundred day moving average price of $86.40.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.03) EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.