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

Zhang Financial LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Harmony Asset Management LLC increased its holdings in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. increased its stake in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC lifted its position in Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after purchasing an additional 40,802 shares during the last quarter. State Street Corp boosted its stake in shares of 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. Finally, Global X Japan Co. Ltd. grew its holdings in shares of Micron Technology by 23.1% in the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 3.1 %

NASDAQ MU opened at $105.75 on Monday. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month 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’s fifty day moving average price is $97.87 and its 200-day moving average price is $102.27. The stock has a market cap of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.95) EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several analyst reports. Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley lowered their price target on 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. Finally, Barclays cut their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $135.24.

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.