China Universal Asset Management Co. Ltd. Has $3.17 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

China Universal Asset Management Co. Ltd. reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 67.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,555 shares of the semiconductor manufacturer's stock after selling 62,121 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Micron Technology were worth $3,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MU. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology in the 1st quarter valued at $25,000. Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 144 shares during the last quarter. LRI Investments LLC boosted its stake in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock valued at $36,000 after buying an additional 99 shares in the last quarter. Finally, Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter worth approximately $30,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the topic of several analyst reports. BNP Paribas cut shares of Micron Technology from an "outperform" rating to an "underperform" rating and reduced their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Bank of America boosted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. UBS Group decreased their price objective on shares of Micron Technology from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Finally, KeyCorp decreased their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $143.04.

Micron Technology Price Performance

Shares of MU stock traded up $1.79 during midday trading on Tuesday, reaching $108.18. 15,141,425 shares of the company were exchanged, compared to its average volume of 22,001,764. The company's 50 day moving average price is $99.18 and its two-hundred day moving average price is $113.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market cap of $119.95 billion, a P/E ratio of -75.90 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $65.17 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm's revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio (DPR) is presently -32.39%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

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.