Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by UG Investment Advisers Ltd.

UG Investment Advisers Ltd. lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 25.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 609,137 shares of the semiconductor manufacturer's stock after buying an additional 122,822 shares during the quarter. Micron Technology makes up about 20.1% of UG Investment Advisers Ltd.'s investment portfolio, making the stock its 2nd largest position. UG Investment Advisers Ltd. owned about 0.05% of Micron Technology worth $51,265,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Deane Retirement Strategies Inc. bought a new stake in Micron Technology in the 4th quarter worth approximately $2,704,000. Orca Wealth Management LLC bought a new stake in Micron Technology in the fourth quarter worth $703,000. Kennedy Investment Group raised its stake in Micron Technology by 13.2% during the fourth quarter. Kennedy Investment Group now owns 19,154 shares of the semiconductor manufacturer's stock valued at $1,612,000 after purchasing an additional 2,227 shares in the last quarter. Wealth Effects LLC lifted its position in Micron Technology by 35.1% during the fourth quarter. Wealth Effects LLC now owns 19,396 shares of the semiconductor manufacturer's stock valued at $1,632,000 after purchasing an additional 5,041 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its stake in shares of Micron Technology by 20.7% in the 4th quarter. Stonegate Investment Group LLC now owns 3,461 shares of the semiconductor manufacturer's stock worth $291,000 after buying an additional 593 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MU. China Renaissance assumed coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a "buy" rating and a $148.00 target price on the stock. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald decreased their price target on Micron Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price target on Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.96.

Micron Technology Stock Performance

NASDAQ MU traded down $1.26 during mid-day trading on Friday, reaching $91.24. 20,484,995 shares of the stock were exchanged, compared to its average volume of 24,383,638. The company has a market capitalization of $101.66 billion, a P/E ratio of 26.29 and a beta of 1.18. 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 business's 50 day moving average is $97.43 and its 200-day moving average is $100.07. 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 earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the firm earned ($0.95) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. 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 13.26%.

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.