UG Investment Advisers Ltd. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 825,664 shares of the semiconductor manufacturer's stock after acquiring an additional 43,249 shares during the quarter. Micron Technology makes up about 19.4% of UG Investment Advisers Ltd.'s portfolio, making the stock its 2nd biggest position. UG Investment Advisers Ltd. owned approximately 0.07% of Micron Technology worth $101,763,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after acquiring an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after acquiring an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Micron Technology by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after acquiring an additional 58,285 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after acquiring an additional 1,416,174 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock valued at $379,417,000 after acquiring an additional 17,970 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology Stock Performance
Shares of MU stock opened at $182.15 on Thursday. The stock has a market cap of $203.85 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.56. The business has a 50-day simple moving average of $131.92 and a 200-day simple moving average of $109.55. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $182.39.
Micron Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's payout ratio is 6.06%.
Insiders Place Their Bets
In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the transaction, the director owned 20,146 shares in the company, valued at $2,330,287.82. The trade was a 10.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 13,798 shares of Micron Technology stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the completion of the transaction, the chief executive officer owned 325,148 shares of the company's stock, valued at approximately $52,739,005.60. This represents a 4.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,456 shares of company stock worth $10,524,945 in the last 90 days. 0.30% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Rosenblatt Securities lifted their price target on Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Wolfe Research boosted their target price on Micron Technology from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Erste Group Bank began coverage on Micron Technology in a research note on Thursday, August 14th. They set a "buy" rating on the stock. Stifel Nicolaus boosted their target price on Micron Technology from $173.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Finally, Mizuho boosted their target price on Micron Technology from $182.00 to $195.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $184.77.
Check Out Our Latest Report on MU
About Micron Technology
(
Free Report)
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.
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