ZEGA Investments LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

ZEGA Investments LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,950 shares of the semiconductor manufacturer’s stock, valued at approximately $164,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Geode Capital Management LLC grew its stake in Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Micron Technology by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after buying an additional 144,897 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Micron Technology by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after buying an additional 321,955 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the subject of a number of recent research reports. Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Morgan Stanley upped their price objective on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. Barclays increased their price target on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, UBS Group increased their price target on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Stock Down 8.0 %

Shares of Micron Technology stock opened at $94.72 on Friday. The stock has a 50-day moving average price of $96.82 and a 200 day moving average price of $98.21. The company has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.