UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 578,944 Shares of Micron Technology, Inc. (NASDAQ:MU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,747,280 shares of the semiconductor manufacturer’s stock after selling 578,944 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.96% of Micron Technology worth $904,491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Micron Technology in the 4th quarter worth about $1,470,875,000. Capital World Investors increased its holdings in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. FMR LLC raised its stake in shares of Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors grew its holdings in Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after buying an additional 4,375,232 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,808 shares of company stock worth $1,858,424 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $98.65 on Tuesday. The business’s fifty day moving average is $83.19 and its 200 day moving average is $92.55. The firm has a market cap of $110.25 billion, a price-to-earnings ratio of 28.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm 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 company’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Robert W. Baird increased their target price 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. Wells Fargo & Company restated an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Finally, China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.48.

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.