Micron Technology, Inc. (NASDAQ:MU) Stake Raised by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 419,134 shares of the semiconductor manufacturer's stock after acquiring an additional 2,594 shares during the period. Micron Technology accounts for about 1.5% of ZWJ Investment Counsel Inc.'s holdings, making the stock its 27th biggest position. ZWJ Investment Counsel Inc.'s holdings in Micron Technology were worth $35,274,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. grew its position in Micron Technology by 17.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer's stock valued at $547,000 after buying an additional 618 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of Micron Technology by 143.0% in the 2nd quarter. AE Wealth Management LLC now owns 12,636 shares of the semiconductor manufacturer's stock worth $1,662,000 after acquiring an additional 7,435 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Micron Technology by 2.2% in the second quarter. Pacer Advisors Inc. now owns 131,568 shares of the semiconductor manufacturer's stock valued at $17,305,000 after acquiring an additional 2,772 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Micron Technology by 1.8% during the second quarter. Gabelli Funds LLC now owns 22,705 shares of the semiconductor manufacturer's stock worth $2,986,000 after acquiring an additional 405 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Micron Technology by 45.2% during the second quarter. EverSource Wealth Advisors LLC now owns 6,512 shares of the semiconductor manufacturer's stock worth $857,000 after purchasing an additional 2,027 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MU shares. Susquehanna lowered their target price on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. KeyCorp lowered their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 8th. Bank of America cut Micron Technology from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Sanford C. Bernstein lowered their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. Finally, Mizuho cut their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.24.

Micron Technology Stock Up 3.4 %

Shares of Micron Technology stock traded up $3.63 on Tuesday, hitting $109.38. 23,399,417 shares of the company's stock traded hands, compared to its average volume of 26,186,410. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm's 50-day moving average is $97.82 and its 200 day moving average is $101.80. The stock has a market cap of $121.87 billion, a P/E ratio of 31.52 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.95) earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology's dividend payout ratio is currently 13.26%.

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.