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Mitsubishi UFJ Asset Management UK Ltd. Invests $869,000 in Micron Technology, Inc. (NASDAQ:MU)

Micron Technology logo with Computer and Technology background

Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the semiconductor manufacturer's stock, valued at approximately $869,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology in the first quarter valued at approximately $33,000. Roxbury Financial LLC lifted its position in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares in the last quarter. AllSquare Wealth Management LLC lifted its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the first quarter valued at approximately $36,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MU. UBS Group lifted their price target on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Piper Sandler lifted their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Robert W. Baird boosted their target price on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, KeyCorp lifted their price target on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $147.24.

Check Out Our Latest Stock Analysis on Micron Technology

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock valued at $34,679,277 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Down 2.7%

NASDAQ:MU opened at $124.27 on Thursday. The stock's 50 day moving average price is $117.39 and its 200 day moving average price is $98.60. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The company has a market capitalization of $139.07 billion, a P/E ratio of 22.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the company posted $0.62 earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Micron Technology Profile

(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.

See Also

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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