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

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.0% in the fourth quarter, HoldingsChannel.com reports. 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.’s holdings in Micron Technology were worth $169,173,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Harmony Asset Management LLC boosted its position in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares during the last quarter. E Fund Management Co. Ltd. boosted its holdings in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after acquiring an additional 8,780 shares during the last quarter. Stablepoint Partners LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $569,000. State Street Corp raised its holdings in shares of Micron Technology by 3.1% in the third 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 last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Micron Technology during the third quarter valued at about $2,414,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $91.16 on Friday. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The stock’s 50-day simple moving average is $96.35 and its 200 day simple moving average is $98.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market capitalization of $101.88 billion, a price-to-earnings ratio of 26.27 and a beta of 1.23.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given 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 currently 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred 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 in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the 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 completion of the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MU shares. Sanford C. Bernstein reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. TD Cowen dropped their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

Micron Technology Company 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.