Zurcher Kantonalbank Zurich Cantonalbank Has $100.05 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 964,744 shares of the semiconductor manufacturer’s stock after selling 238,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Micron Technology worth $100,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC lifted its position in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Micron Technology by 12.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 7,231 shares of the semiconductor manufacturer’s stock worth $750,000 after buying an additional 823 shares in the last quarter. Blueshift Asset Management LLC boosted its stake in shares of Micron Technology by 44.5% during the 3rd quarter. Blueshift Asset Management LLC now owns 7,038 shares of the semiconductor manufacturer’s stock worth $730,000 after buying an additional 2,166 shares during the last quarter. Bridgewater Associates LP bought a new position in shares of Micron Technology in the 3rd quarter valued at about $102,018,000. Finally, Freedom Investment Management Inc. increased its position in shares of Micron Technology by 68.3% in the third quarter. Freedom Investment Management Inc. now owns 5,817 shares of the semiconductor manufacturer’s stock valued at $603,000 after acquiring an additional 2,361 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. UBS Group decreased their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Bank of America increased their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Finally, Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

Micron Technology Trading Down 3.5 %

MU opened at $98.20 on Thursday. The stock has a market capitalization of $108.88 billion, a price-to-earnings ratio of 144.41 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a 50-day simple moving average of $103.28 and a 200 day simple moving average of $111.80.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the business posted ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

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.