Zevenbergen Capital Investments LLC Trims Position in Micron Technology, Inc. (NASDAQ:MU)

Zevenbergen Capital Investments LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 310,025 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Micron Technology were worth $26,092,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Beacon Capital Management LLC increased its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the last quarter. True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% during the third 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 last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology during the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC lifted its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. Finally, Activest Wealth Management increased its position in shares of Micron Technology by 583.3% during 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 last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $94.72 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a 50-day simple moving average of $96.82 and a 200 day simple moving average of $98.34. The stock has a market capitalization of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its 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 net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is 11.03%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler decreased their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. Needham & Company LLC dropped their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup decreased their target price on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday. Finally, Sanford C. Bernstein dropped their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.63.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.