UG Investment Advisers Ltd. Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

UG Investment Advisers Ltd. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 28.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 782,415 shares of the semiconductor manufacturer's stock after acquiring an additional 173,278 shares during the quarter. Micron Technology makes up approximately 18.6% of UG Investment Advisers Ltd.'s holdings, making the stock its 3rd biggest holding. UG Investment Advisers Ltd. owned about 0.07% of Micron Technology worth $67,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Brighton Jones LLC lifted its stake in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares in the last quarter. Allworth Financial LP lifted its position in shares of Micron Technology by 28.5% in the 4th quarter. Allworth Financial LP now owns 8,717 shares of the semiconductor manufacturer's stock worth $734,000 after purchasing an additional 1,933 shares during the period. Empower Advisory Group LLC boosted its stake in shares of Micron Technology by 5.9% during the fourth quarter. Empower Advisory Group LLC now owns 2,846 shares of the semiconductor manufacturer's stock valued at $240,000 after purchasing an additional 158 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Micron Technology by 2.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 65,689 shares of the semiconductor manufacturer's stock valued at $5,530,000 after purchasing an additional 1,515 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MU. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Barclays dropped their price objective on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut 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 Friday, March 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $129.00.

Micron Technology Stock Performance

Shares of MU stock opened at $121.82 on Friday. The business has a fifty day moving average of $92.05 and a 200 day moving average of $93.23. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The firm has a market capitalization of $136.14 billion, a price-to-earnings ratio of 29.21 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 5,210 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total transaction of $632,233.50. Following the completion of the transaction, the chief executive officer now directly owns 379,675 shares in the company, valued at approximately $46,073,561.25. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,404 shares of company stock worth $5,572,867 over the last three months. Company insiders own 0.30% of the company's stock.

About Micron Technology

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.

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.