Mitsubishi UFJ Asset Management Co. Ltd. Acquires 155,326 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,882,423 shares of the semiconductor manufacturer’s stock after buying an additional 155,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Micron Technology worth $169,173,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares during the period. Raymond James Financial Inc. acquired a new stake in Micron Technology during the 4th quarter worth approximately $135,865,000. State Street Corp boosted its stake in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC grew its holdings in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after buying an additional 1,334,690 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Micron Technology by 24.3% during the 3rd quarter. Two Sigma Advisers LP now owns 4,573,200 shares of the semiconductor manufacturer’s stock worth $474,287,000 after buying an additional 893,700 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Robert W. Baird raised their target price on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Wells Fargo & Company reduced their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group lifted their price objective on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

Micron Technology Trading Down 1.1 %

Shares of MU stock opened at $91.16 on Friday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock’s fifty day simple moving average is $96.35 and its 200 day simple moving average is $98.36. 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 has a market capitalization of $101.88 billion, a P/E ratio of 26.27 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 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.