Bank Julius Baer & Co. Ltd Zurich Trims Holdings in Micron Technology, Inc. (NASDAQ:MU)

Bank Julius Baer & Co. Ltd Zurich lessened its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 53.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,147 shares of the semiconductor manufacturer's stock after selling 93,182 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Micron Technology were worth $7,051,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MU. Sunbeam Capital Management LLC bought a new position in Micron Technology in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the first quarter worth approximately $33,000. Hurley Capital LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $37,000. Roxbury Financial LLC lifted its holdings in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MU shares. KeyCorp raised their target price on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Robert W. Baird increased their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Citigroup increased their price target on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Mizuho increased their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Finally, Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $146.44.

Micron Technology Price Performance

MU stock traded up $1.90 during mid-day trading on Thursday, hitting $111.73. 20,223,773 shares of the stock were exchanged, compared to its average volume of 24,822,728. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The business has a fifty day moving average price of $112.68 and a 200 day moving average price of $97.50. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The stock has a market capitalization of $125.04 billion, a price-to-earnings ratio of 20.13 and a beta of 1.35.

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

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the transaction, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,446 shares of company stock valued at $34,871,597. 0.30% of the stock is currently owned by corporate insiders.

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.