Relyea Zuckerberg Hanson LLC Takes $205,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Relyea Zuckerberg Hanson LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,364 shares of the semiconductor manufacturer's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Sunbeam Capital Management LLC bought a new position in Micron Technology during the 4th quarter worth $26,000. Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth about $33,000. Curio Wealth LLC bought a new position in Micron Technology in the 4th quarter valued at about $34,000. Finally, Hurley Capital LLC bought a new position in Micron Technology in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 0.4%

Shares of NASDAQ:MU traded up $0.50 during mid-day trading on Tuesday, hitting $120.34. 20,778,387 shares of the company traded hands, compared to its average volume of 23,706,258. The stock has a 50-day moving average price of $90.13 and a two-hundred day moving average price of $92.87. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a market cap of $134.49 billion, a P/E ratio of 28.86 and a beta of 1.28. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the business earned $0.42 EPS. The business's revenue was up 38.2% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,904 shares of company stock worth $4,665,124 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank Of Canada set a $125.00 target price on shares of Micron Technology in a research report on Wednesday, March 19th. UBS Group upped their price target on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. KGI Securities raised Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Finally, Wedbush restated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $129.00.

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.