Flynn Zito Capital Management LLC Sells 7,263 Shares of Micron Technology, Inc. (NASDAQ:MU)

Flynn Zito Capital Management LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 32.3% in the first quarter, Holdings Channel reports. The firm owned 15,206 shares of the semiconductor manufacturer’s stock after selling 7,263 shares during the period. Micron Technology comprises about 0.6% of Flynn Zito Capital Management LLC’s holdings, making the stock its 26th biggest position. Flynn Zito Capital Management LLC’s holdings in Micron Technology were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Micron Technology during the fourth quarter worth about $1,470,875,000. Capital World Investors boosted its holdings in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. FMR LLC boosted its holdings in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital Research Global Investors boosted its holdings in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock worth $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its position in Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after buying an additional 4,375,232 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several recent analyst reports. Wedbush boosted their price target on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Morgan Stanley boosted their price target on Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Bank of America upped their target price on Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Raymond James Financial boosted their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $150.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.44.

Micron Technology Trading Down 0.9%

Shares of Micron Technology stock opened at $112.18 on Tuesday. The firm has a market cap of $125.54 billion, a price-to-earnings ratio of 20.31 and a beta of 1.35. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $111.39 and a 200-day moving average price of $97.08.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the firm earned $0.62 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director directly owned 22,550 shares in the company, valued at $2,734,864. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock valued at $31,154,717 in the last 90 days. 0.30% of the stock is currently owned by insiders.

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.