UniSuper Management Pty Ltd Purchases 12,436 Shares of Micron Technology, Inc. (NASDAQ:MU)

UniSuper Management Pty Ltd increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.4% in the fourth quarter, HoldingsChannel reports. The firm owned 207,919 shares of the semiconductor manufacturer’s stock after buying an additional 12,436 shares during the period. UniSuper Management Pty Ltd’s holdings in Micron Technology were worth $17,498,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MU. Harmony Asset Management LLC lifted its stake in shares of Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after buying an additional 5,120 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after acquiring an additional 8,780 shares during the period. Stablepoint Partners LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $569,000. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Micron Technology in the third quarter valued at approximately $2,414,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction 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 sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird lifted their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group upped their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Rosenblatt Securities dropped their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Piper Sandler cut their price target 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.96.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $91.16 on Friday. The company’s 50 day moving average price is $96.35 and its two-hundred day moving average price is $98.36. The firm has a market capitalization of $101.88 billion, a P/E ratio of 26.27 and a beta of 1.23. Micron Technology, Inc. has a fifty-two week low of $83.54 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.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

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.