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

Relyea Zuckerberg Hanson LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,364 shares of the semiconductor manufacturer’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $26,000. Beacon Capital Management LLC boosted its position in shares of 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 period. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $33,000. Curio Wealth LLC acquired a new stake in Micron Technology during the 4th quarter worth about $34,000. Finally, Hurley Capital LLC acquired a new stake in Micron Technology during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 0.5%

Shares of MU stock opened at $115.60 on Friday. The stock’s 50 day simple moving average is $88.20 and its 200 day simple moving average is $92.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a market capitalization of $129.19 billion, a price-to-earnings ratio of 33.31 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for 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 firm’s revenue was up 38.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. decreased 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. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. Finally, UBS Group raised their price objective on Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Insider Buying and Selling at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at $42,929,964. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock valued at $4,665,124 in the last 90 days. 0.30% of the stock is currently owned by insiders.

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.