Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Zhang Financial LLC

Zhang Financial LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 73.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 35,191 shares of the semiconductor manufacturer's stock after purchasing an additional 14,941 shares during the period. Zhang Financial LLC's holdings in Micron Technology were worth $3,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter worth $26,000. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth $33,000. Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the period. Finally, Curio Wealth LLC purchased a new position in shares of Micron Technology during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 0.1%

MU traded up $0.15 on Thursday, reaching $116.18. The company's stock had a trading volume of 17,036,682 shares, compared to its average volume of 23,684,590. The stock has a market cap of $129.84 billion, a price-to-earnings ratio of 33.48 and a beta of 1.28. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business's 50 day moving average is $86.24 and its 200 day moving average is $92.43.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared 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 dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MU. UBS Group lifted their target price on Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Robert W. Baird lifted their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Rosenblatt Securities decreased their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Wall Street Zen downgraded Micron Technology from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.88, for a total transaction of $436,645.44. Following the sale, the chief executive officer now owns 387,175 shares of the company's stock, valued at $42,929,964. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value 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. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock worth $4,665,124 in the last 90 days. 0.30% of the stock is currently 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.