Micron Technology, Inc. (NASDAQ:MU) Position Increased by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 32.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,213 shares of the semiconductor manufacturer’s stock after buying an additional 5,701 shares during the quarter. Micron Technology makes up 1.6% of Flynn Zito Capital Management LLC’s portfolio, making the stock its 16th biggest position. Flynn Zito Capital Management LLC’s holdings in Micron Technology were worth $3,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. grew its stake in Micron Technology by 26.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,757 shares of the semiconductor manufacturer’s stock worth $235,000 after buying an additional 577 shares during the last quarter. Spire Wealth Management grew its position in shares of Micron Technology by 9.6% during the fourth quarter. Spire Wealth Management now owns 2,034 shares of the semiconductor manufacturer’s stock worth $178,000 after acquiring an additional 179 shares during the last quarter. Lincoln National Corp increased its holdings in shares of Micron Technology by 13.3% in the 4th quarter. Lincoln National Corp now owns 8,059 shares of the semiconductor manufacturer’s stock worth $688,000 after acquiring an additional 948 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Micron Technology in the 4th quarter worth about $223,000. Finally, Wealthspire Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at about $256,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 3.4 %

Shares of Micron Technology stock opened at $86.38 on Friday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The firm has a market capitalization of $95.78 billion, a PE ratio of -60.83 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $108.72 and its 200-day moving average is $114.56.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the company earned ($1.57) EPS. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. Micron Technology’s payout ratio is presently -32.39%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold a total of 46,174 shares of company stock valued at $6,827,113 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. Needham & Company LLC decreased their target price on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Cantor Fitzgerald lifted their target price on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Piper Sandler increased their price target on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

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.