ZWJ Investment Counsel Inc. Has $37.07 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

ZWJ Investment Counsel Inc. lifted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 426,649 shares of the semiconductor manufacturer's stock after purchasing an additional 7,515 shares during the quarter. Micron Technology comprises 1.5% of ZWJ Investment Counsel Inc.'s holdings, making the stock its 28th biggest position. ZWJ Investment Counsel Inc.'s holdings in Micron Technology were worth $37,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth approximately $33,000. Roxbury Financial LLC boosted 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. Curio Wealth LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $34,000. Finally, Hurley Capital LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $37,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director owned 22,762 shares in the company, valued at $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 in the last ninety days. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

MU stock traded up $0.29 during trading hours on Thursday, hitting $122.03. 13,247,931 shares of the stock were exchanged, compared to its average volume of 23,335,060. 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 market capitalization of $136.56 billion, a P/E ratio of 21.99 and a beta of 1.35. The company has a 50-day simple moving average of $101.83 and a two-hundred day simple moving average of $94.67. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month 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, topping the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter last year, the business earned $0.62 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company 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 dividend of $0.115 per share. 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 11.03%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MU shares. Susquehanna upped their price target on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday, June 26th. Wells Fargo & Company increased their price objective on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Raymond James Financial increased their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Robert W. Baird increased their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Needham & Company LLC increased their price objective on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $146.21.

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.