China Universal Asset Management Co. Ltd. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 40.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,130 shares of the semiconductor manufacturer's stock after selling 12,425 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Micron Technology were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of MU. State Street Corp increased its position 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 acquiring an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock valued at $2,451,987,000 after purchasing an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Micron Technology by 21.7% in 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. Finally, Van ECK Associates Corp lifted its holdings in Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after buying an additional 2,477,985 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.
Insider Transactions at Micron Technology
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Piper Sandler lowered their target price on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Barclays reduced their target price on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, December 20th. China Renaissance began coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a "buy" rating and a $148.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $134.96.
Check Out Our Latest Report on Micron Technology
Micron Technology Price Performance
Shares of NASDAQ MU opened at $91.24 on Friday. The company has a fifty day moving average price of $97.43 and a 200 day moving average price of $100.07. The firm has a market cap of $101.66 billion, a PE ratio of 26.29 and a beta of 1.18. 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 1-year low of $79.15 and a 1-year high of $157.54.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same period in the prior year, the firm earned ($0.95) earnings per share. Micron Technology's revenue for the quarter was up 84.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.
Micron Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.
About Micron Technology
(
Free Report)
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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