Flynn Zito Capital Management LLC Sells 7,263 Shares of Micron Technology, Inc. (NASDAQ:MU)

Flynn Zito Capital Management LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 32.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,206 shares of the semiconductor manufacturer's stock after selling 7,263 shares during the quarter. Micron Technology accounts for about 0.6% of Flynn Zito Capital Management LLC's holdings, making the stock its 26th biggest holding. Flynn Zito Capital Management LLC's holdings in Micron Technology were worth $1,321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MU. Sunbeam Capital Management LLC bought a new position in Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the 1st quarter worth approximately $33,000. Roxbury Financial LLC grew its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the last quarter. Hurley Capital LLC bought a new position in Micron Technology during the 4th quarter worth approximately $37,000. Finally, Harbor Investment Advisory LLC lifted its holdings in Micron Technology by 240.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MU shares. Barclays increased their price objective on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Needham & Company LLC boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Morgan Stanley boosted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, Citigroup boosted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and a consensus target price of $146.44.

Micron Technology Trading Up 1.7%

Micron Technology stock traded up $1.91 during mid-day trading on Thursday, hitting $111.74. The company's stock had a trading volume of 16,066,940 shares, compared to its average volume of 23,459,619. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The company has a 50 day moving average of $112.35 and a 200-day moving average of $97.41. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The stock has a market cap of $125.06 billion, a PE ratio of 20.13 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Insiders Place Their Bets

In other news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director directly owned 22,762 shares of the company's stock, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by company 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.