Zhang Financial LLC Sells 2,289 Shares of Micron Technology, Inc. (NASDAQ:MU)

Zhang Financial LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,250 shares of the semiconductor manufacturer’s stock after selling 2,289 shares during the quarter. Zhang Financial LLC’s holdings in Micron Technology were worth $1,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. State Street Corp grew its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC increased its position in Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after buying an additional 1,334,690 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Micron Technology by 1,233.7% in the third quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock worth $145,470,000 after buying an additional 1,323,352 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the subject of a number of recent research reports. KeyCorp cut their price objective 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. Morgan Stanley dropped their price target on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Piper Sandler reduced their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Trading Up 3.1 %

Shares of MU stock opened at $105.75 on Monday. The company has a market cap of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock’s 50 day simple moving average is $97.87 and its two-hundred day simple moving average is $102.27. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the company earned ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

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.