UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 578,944 Shares of Micron Technology, Inc. (NASDAQ:MU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,747,280 shares of the semiconductor manufacturer's stock after selling 578,944 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.96% of Micron Technology worth $904,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Waverly Advisors LLC grew its holdings in shares of Micron Technology by 179.3% in the 4th quarter. Waverly Advisors LLC now owns 58,075 shares of the semiconductor manufacturer's stock worth $4,888,000 after purchasing an additional 37,285 shares during the last quarter. Wesleyan Assurance Society bought a new stake in shares of Micron Technology in the 4th quarter worth about $6,219,000. Woodline Partners LP grew its holdings in shares of Micron Technology by 128.8% in the 4th quarter. Woodline Partners LP now owns 865,041 shares of the semiconductor manufacturer's stock worth $72,802,000 after purchasing an additional 486,931 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Micron Technology by 14.3% in the 4th quarter. Vident Advisory LLC now owns 373,599 shares of the semiconductor manufacturer's stock worth $31,442,000 after purchasing an additional 46,873 shares during the last quarter. Finally, Sphera Management Technology Funds Ltd bought a new stake in shares of Micron Technology in the 4th quarter worth about $2,104,000. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MU shares. Morgan Stanley lowered their target price on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Citigroup lowered their target price on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Barclays decreased their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $126.48.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction 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 $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. In the last three months, insiders sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is owned by corporate insiders.

Micron Technology Trading Down 2.3%

Shares of NASDAQ:MU traded down $2.26 during mid-day trading on Wednesday, reaching $95.84. The stock had a trading volume of 15,715,764 shares, compared to its average volume of 23,487,809. The firm has a market cap of $107.11 billion, a PE ratio of 27.62 and a beta of 1.21. The firm has a 50 day simple moving average of $83.15 and a two-hundred day simple moving average of $92.61. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the business earned $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology's payout ratio is 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.