Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 26.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 949,675 shares of the semiconductor manufacturer's stock after selling 347,213 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Micron Technology worth $81,045,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wealth Alliance raised its holdings in Micron Technology by 4.8% in the 4th quarter. Wealth Alliance now owns 3,908 shares of the semiconductor manufacturer's stock valued at $334,000 after acquiring an additional 179 shares in the last quarter. Riverstone Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at approximately $225,000. Imprint Wealth LLC acquired a new position in Micron Technology in the 4th quarter valued at approximately $211,000. SVB Wealth LLC raised its holdings in Micron Technology by 9.1% in the 4th quarter. SVB Wealth LLC now owns 17,726 shares of the semiconductor manufacturer's stock valued at $1,513,000 after acquiring an additional 1,473 shares in the last quarter. Finally, Flputnam Investment Management Co. acquired a new position in Micron Technology in the 4th quarter valued at approximately $251,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 0.3 %

Shares of MU traded up $0.40 during midday trading on Tuesday, hitting $121.77. The stock had a trading volume of 17,426,047 shares, compared to its average volume of 20,231,006. The company has a 50 day simple moving average of $101.36 and a two-hundred day simple moving average of $86.01. Micron Technology, Inc. has a twelve month low of $58.03 and a twelve month high of $130.54. The firm has a market cap of $134.84 billion, a price-to-earnings ratio of -35.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology's revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter last year, the company earned ($2.03) EPS. On average, analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, March 28th. Micron Technology's payout ratio is currently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at $89,321,088.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total value of $858,200.00. Following the sale, the chief executive officer now owns 728,557 shares of the company's stock, valued at approximately $89,321,088.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,890 shares of company stock worth $33,354,527. Company insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MU shares. Bank of America increased their target price on Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Needham & Company LLC increased their price target on Micron Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Evercore ISI increased their price target on Micron Technology from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, December 21st. Rosenblatt Securities restated a "buy" rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Micron Technology from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.20.

Micron Technology 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.