Zweig DiMenna Associates LLC Sells 8,100 Shares of Micron Technology, Inc. (NASDAQ:MU)

Zweig DiMenna Associates LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 160,849 shares of the semiconductor manufacturer’s stock after selling 8,100 shares during the quarter. Micron Technology comprises approximately 1.7% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 20th biggest position. Zweig DiMenna Associates LLC’s holdings in Micron Technology were worth $16,682,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Wealthcare Advisory Partners LLC lifted its holdings in shares of Micron Technology by 8.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,053 shares of the semiconductor manufacturer’s stock valued at $1,303,000 after buying an additional 815 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Micron Technology by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,479 shares of the semiconductor manufacturer’s stock valued at $9,016,000 after acquiring an additional 9,179 shares during the last quarter. Courier Capital LLC lifted its holdings in Micron Technology by 5.9% in the first quarter. Courier Capital LLC now owns 9,015 shares of the semiconductor manufacturer’s stock valued at $1,063,000 after acquiring an additional 500 shares during the period. Capital Asset Advisory Services LLC purchased a new position in Micron Technology in the first quarter worth about $631,000. Finally, Calton & Associates Inc. bought a new stake in shares of Micron Technology during the 1st quarter valued at about $252,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % 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. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $106.85 on Friday. The firm has a market cap of $118.48 billion, a PE ratio of -75.25 and a beta of 1.18. The stock has a 50 day moving average of $99.23 and a 200 day moving average of $114.10. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Susquehanna decreased their price target 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. Robert W. Baird cut their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $142.85.

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.