Micron Technology, Inc. (NASDAQ:MU) Stake Lifted by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 419,134 shares of the semiconductor manufacturer’s stock after buying an additional 2,594 shares during the period. Micron Technology comprises about 1.5% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 27th biggest holding. ZWJ Investment Counsel Inc.’s holdings in Micron Technology were worth $35,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology during the third quarter worth about $26,000. Davis Capital Management bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted 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 valued at $33,000 after purchasing an additional 296 shares during the last quarter. DT Investment Partners LLC boosted its holdings in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC grew its position in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related 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 sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MU. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Mizuho reduced their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Trading Up 3.1 %

Shares of Micron Technology stock opened at $105.75 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a market capitalization of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18. The firm’s 50-day moving average price is $97.87 and its two-hundred day moving average price is $102.02.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating 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 analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) EPS. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

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.