Uniting Wealth Partners LLC Takes $298,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Uniting Wealth Partners LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,542 shares of the semiconductor manufacturer's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Micron Technology in the 4th quarter valued at $1,470,875,000. Nomura Asset Management Co. Ltd. boosted its stake in Micron Technology by 339.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock valued at $189,781,000 after purchasing an additional 1,742,073 shares during the period. Raymond James Financial Inc. acquired a new stake in Micron Technology in the 4th quarter valued at approximately $135,865,000. 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 worth $5,001,592,000 after buying an additional 1,434,568 shares during the period. Finally, 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 valued at $192,840,000 after acquiring an additional 1,334,690 shares during the period. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the subject of several research analyst reports. Stifel Nicolaus reduced their price target on shares of 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 reiterated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $129.76.

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Micron Technology Price Performance

Shares of MU stock traded down $14.26 during trading hours on Thursday, reaching $74.34. 44,680,525 shares of the company were exchanged, compared to its average volume of 22,727,681. Micron Technology, Inc. has a fifty-two week low of $74.26 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock's fifty day moving average is $94.19 and its two-hundred day moving average is $98.25. The company has a market cap of $83.08 billion, a price-to-earnings ratio of 21.42 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. The business's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.62%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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.