UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Micron Technology, Inc. (NASDAQ:MU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,326,224 shares of the semiconductor manufacturer’s stock after buying an additional 2,022,180 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Micron Technology were worth $1,174,643,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MU. Citizens Financial Group Inc. RI increased its stake in Micron Technology by 66.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,399 shares of the semiconductor manufacturer’s stock valued at $519,000 after buying an additional 1,759 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in shares of Micron Technology during the first quarter valued at approximately $234,000. Swedbank AB bought a new stake in Micron Technology during the first quarter worth $54,432,000. Atria Investments Inc boosted its position in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after purchasing an additional 93 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Micron Technology by 161.3% in the first quarter. Cetera Investment Advisers now owns 193,549 shares of the semiconductor manufacturer’s stock worth $22,817,000 after purchasing an additional 119,489 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MU shares. KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley increased their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Finally, Rosenblatt Securities increased their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Down 3.5 %

Micron Technology stock opened at $98.20 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The stock has a market cap of $108.88 billion, a P/E ratio of 144.41 and a beta of 1.18. The firm’s fifty day moving average price is $103.28 and its 200-day moving average price is $111.80.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the company earned ($1.21) EPS. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% 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.