Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 509,515 shares of the semiconductor manufacturer’s stock after selling 6,394 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Micron Technology were worth $42,881,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MU. Harmony Asset Management LLC raised its stake in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 5,120 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares during the period. Stablepoint Partners LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $569,000. State Street Corp lifted its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in Micron Technology in the 3rd quarter worth approximately $2,414,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on MU shares. Rosenblatt Securities decreased their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Robert W. Baird upped their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. UBS Group lifted their price objective on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Citigroup lowered their target price on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Morgan Stanley lifted their price target on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $129.96.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $92.13 on Thursday. The stock has a market capitalization of $102.65 billion, a P/E ratio of 26.55 and a beta of 1.23. The business has a 50 day simple moving average of $96.58 and a two-hundred day simple moving average of $98.41. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

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

Micron Technology Announces Dividend

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

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.