ZWJ Investment Counsel Inc. Has $57.52 Million Holdings in Micron Technology, Inc. $MU

Key Points

• ZWJ Investment Counsel Inc. increased its holdings in Micron Technology by 9.4% during the second quarter, holding 466,667 shares worth approximately $57.52 million.
• Several analysts have raised their price targets for Micron Technology, with UBS increasing it to $195 and Wedbush to $220, while most analysts maintain a consensus rating of "Moderate Buy."
• Micron Technology recently declared a quarterly dividend of $0.115 per share, to be paid to stockholders on October 21st, representing an annual yield of 0.2%.

ZWJ Investment Counsel Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 466,667 shares of the semiconductor manufacturer's stock after buying an additional 40,018 shares during the quarter. Micron Technology accounts for approximately 2.1% of ZWJ Investment Counsel Inc.'s holdings, making the stock its 13th biggest holding. ZWJ Investment Counsel Inc.'s holdings in Micron Technology were worth $57,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the 1st quarter valued at $33,000. AllSquare Wealth Management LLC increased its holdings in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology in the 1st quarter valued at $36,000. Hilltop National Bank bought a new stake in Micron Technology in the 2nd quarter valued at $37,000. Finally, Saudi Central Bank bought a new stake in Micron Technology in the 1st quarter valued at $38,000. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. UBS Group boosted their price target on shares of Micron Technology from $185.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Summit Insights raised shares of Micron Technology to a "strong-buy" rating in a report on Tuesday, September 23rd. Wedbush upped their target price on shares of Micron Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Susquehanna upped their target price on shares of Micron Technology from $160.00 to $200.00 and gave the stock a "positive" rating in a report on Wednesday, September 17th. Finally, Wall Street Zen lowered shares of Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $184.77.

Micron Technology Stock Up 2.2%

MU opened at $187.83 on Friday. The firm's 50-day simple moving average is $134.89 and its 200-day simple moving average is $110.70. The firm has a market cap of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $191.85.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology's dividend payout ratio is 6.06%.

Insider Buying and Selling at Micron Technology

In related news, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the transaction, the director owned 96,031 shares in the company, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares in the company, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,456 shares of company stock worth $15,698,445 over the last quarter. Corporate insiders own 0.30% of the company's stock.

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.

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