Zions Bancorporation N.A. Sells 162 Shares of Micron Technology, Inc. (NASDAQ:MU)

Zions Bancorporation N.A. trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 26.4% during the third quarter, Holdings Channel reports. The fund owned 451 shares of the semiconductor manufacturer’s stock after selling 162 shares during the quarter. Zions Bancorporation N.A.’s holdings in Micron Technology were worth $47,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Van ECK Associates Corp grew its holdings in Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the last quarter. Capital International Investors increased its position in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares during the period. Swedbank AB lifted its holdings in shares of Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after buying an additional 2,187,460 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after acquiring an additional 1,809,000 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MU. TD Cowen upped their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Wells Fargo & Company lowered their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Finally, Robert W. Baird reduced their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

MU opened at $96.34 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company’s 50 day simple moving average is $101.33 and its 200-day simple moving average is $112.72. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The stock has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period last year, the firm earned ($1.21) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

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.