Micron Technology, Inc. (NASDAQ:MU) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 447,020 shares of the semiconductor manufacturer’s stock after selling 5,307 shares during the quarter. Micron Technology comprises approximately 2.0% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 21st biggest holding. ZWJ Investment Counsel Inc.’s holdings in Micron Technology were worth $38,149,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of Micron Technology by 12.8% in the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after purchasing an additional 39,693 shares during the last quarter. Prudential PLC acquired a new position in Micron Technology in the first quarter valued at $1,672,000. Brighton Jones LLC boosted its holdings in Micron Technology by 12.3% in the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after acquiring an additional 318 shares during the last quarter. Baird Financial Group Inc. grew its position in Micron Technology by 9.2% during the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock valued at $15,611,000 after acquiring an additional 16,953 shares during the period. Finally, Zions Bancorporation N.A. increased its stake in Micron Technology by 52.5% during 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 during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the topic of several research analyst reports. KeyCorp lifted their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Cantor Fitzgerald increased their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. UBS Group upped their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company raised their price objective on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $122.20.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $70,970,130. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock valued at $33,617,027 in the last quarter. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 4.6 %

Micron Technology stock traded down $5.16 during midday trading on Friday, hitting $106.77. The stock had a trading volume of 33,747,831 shares, compared to its average volume of 20,635,740. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $102.95 and a 200 day moving average price of $86.67. Micron Technology, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54. The stock has a market cap of $118.23 billion, a P/E ratio of -30.95 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.03) EPS. Research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

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 of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Micron Technology 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.