Zevenbergen Capital Investments LLC Has $26.09 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Zevenbergen Capital Investments LLC reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 310,025 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Micron Technology were worth $26,092,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC increased its holdings in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Finally, Activest Wealth Management grew its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on 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 in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $94.72 on Monday. The stock has a fifty day moving average price of $96.82 and a 200 day moving average price of $98.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm 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%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MU shares. Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday. Rosenblatt Securities cut their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday. Mizuho cut their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group cut their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $132.63.

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.