Vontobel Holding Ltd. Sells 32,313 Shares of Micron Technology, Inc. (NASDAQ:MU)

Vontobel Holding Ltd. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,875 shares of the semiconductor manufacturer's stock after selling 32,313 shares during the period. Vontobel Holding Ltd.'s holdings in Micron Technology were worth $10,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MU. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. raised its holdings in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after acquiring an additional 108 shares during the period. Cim Investment Management Inc. raised its holdings in shares of Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after acquiring an additional 114 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after buying an additional 119 shares during the period. Finally, FineMark National Bank & Trust increased its stake in Micron Technology by 3.9% in the 4th quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after buying an additional 136 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the transaction, the director directly owned 22,550 shares in the company, valued at $2,734,864. This trade represents a 9.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,446 shares of company stock worth $31,154,717. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Citigroup boosted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley increased their price target on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Rosenblatt Securities increased their price target on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, TD Cowen increased their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $0.29 during mid-day trading on Friday, reaching $122.03. 13,247,931 shares of the stock were exchanged, compared to its average volume of 23,335,060. The company has a market cap of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $103.57 and a 200 day simple moving average of $94.86. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $137.13.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is presently 8.29%.

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.