Amundi Cuts Position in Micron Technology, Inc. (NASDAQ:MU)

Amundi trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 54.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,804,452 shares of the semiconductor manufacturer's stock after selling 3,332,468 shares during the period. Amundi owned 0.25% of Micron Technology worth $236,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Micron Technology by 21.7% during the 3rd 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 purchasing an additional 2,022,180 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Micron Technology during the 4th quarter worth about $135,865,000. State Street Corp boosted its stake in shares of Micron Technology by 3.1% during the 3rd 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 last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock worth $192,840,000 after acquiring an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in shares of Micron Technology in the third quarter worth approximately $102,018,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Up 4.1 %

MU stock opened at $92.96 on Monday. The company has a market capitalization of $103.57 billion, a P/E ratio of 26.79 and a beta of 1.23. The firm has a 50 day simple moving average of $95.99 and a 200-day simple moving average of $98.29. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54.

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Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The firm's revenue was up 84.3% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio is currently 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MU. Needham & Company LLC decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Cantor Fitzgerald cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company cut their price target on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group cut their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Mizuho cut their price target on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $134.96.

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.

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