Relyea Zuckerberg Hanson LLC Purchases New Position in Micron Technology, Inc. (NASDAQ:MU)

Relyea Zuckerberg Hanson LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, HoldingsChannel reports. The fund purchased 2,364 shares of the semiconductor manufacturer’s stock, valued at approximately $205,000.

Several other institutional investors have also bought and sold shares of the stock. Sunbeam Capital Management LLC bought a new position in Micron Technology in the 4th quarter valued at $26,000. Beacon Capital Management LLC raised its position in Micron Technology by 114.9% in the 4th 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 during the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter valued at $33,000. Roxbury Financial LLC raised its position in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Finally, Curio Wealth LLC bought a new position in Micron Technology in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 0.5%

NASDAQ:MU opened at $115.60 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $129.19 billion, a price-to-earnings ratio of 33.31 and a beta of 1.28. The stock has a 50-day moving average price of $88.20 and a two-hundred day moving average price of $92.60. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

Several brokerages have issued reports on MU. JPMorgan Chase & Co. cut their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Mizuho boosted their target price on Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. UBS Group boosted their target price on Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Citigroup boosted their target price on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock valued at $4,665,124 over the last three months. Company insiders own 0.30% of the company’s stock.

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.