Zhang Financial LLC Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Zhang Financial LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,940 shares of the semiconductor manufacturer’s stock after selling 2,908 shares during the period. Zhang Financial LLC’s holdings in Micron Technology were worth $1,958,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Sandy Spring Bank increased its position in Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 130 shares in the last quarter. HMS Capital Management LLC grew its position in shares of Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares in the last quarter. Huntington National Bank grew its position in shares of Micron Technology by 6.0% during the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after purchasing an additional 149 shares in the last quarter. Allworth Financial LP boosted its stake in Micron Technology by 3.0% during the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 150 shares during the last quarter. Finally, Homestead Advisers Corp boosted its stake in Micron Technology by 12.5% during the third quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after buying an additional 152 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $4.83 during trading on Friday, hitting $107.10. 21,335,815 shares of the stock were exchanged, compared to its average volume of 20,460,953. The company has a fifty day moving average price of $102.53 and a two-hundred day moving average price of $86.40. The company has a market cap of $118.60 billion, a PE ratio of -31.17 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America increased their price target on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Thursday, March 21st. Finally, TD Cowen raised their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

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.