ZEGA Investments LLC Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

ZEGA Investments LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,950 shares of the semiconductor manufacturer’s stock, valued at approximately $164,000.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Geode Capital Management LLC lifted its position in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Micron Technology by 21.7% during the 3rd 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 worth $1,174,643,000 after buying an additional 2,022,180 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Micron Technology by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after buying an additional 144,897 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Micron Technology by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after buying an additional 321,955 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Barclays raised their target price on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC cut their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.63.

Insider Activity

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

Micron Technology Stock Down 8.0 %

NASDAQ:MU opened at $94.72 on Friday. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $105.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.23. The stock has a 50-day moving average price of $96.82 and a two-hundred day moving average price of $98.21.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was up 38.2% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.