Union Bancaire Privee UBP SA Sells 4,150 Shares of Micron Technology, Inc. (NASDAQ:MU)

Union Bancaire Privee UBP SA reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,900 shares of the semiconductor manufacturer's stock after selling 4,150 shares during the period. Union Bancaire Privee UBP SA's holdings in Micron Technology were worth $510,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $26,000. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $33,000. Curio Wealth LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $34,000. Finally, Hurley Capital LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $37,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Micron Technology stock traded down $0.58 during mid-day trading on Friday, reaching $115.60. The company had a trading volume of 17,402,839 shares, compared to its average volume of 23,727,958. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market cap of $129.19 billion, a P/E ratio of 33.31 and a beta of 1.28. The business has a fifty day simple moving average of $88.20 and a 200 day simple moving average of $92.57.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. Micron Technology's revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is 11.03%.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Morgan Stanley cut their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird raised their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Barclays cut their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday. Finally, China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $129.00.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 3,562 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the transaction, the chief executive officer now owns 391,113 shares in the company, valued at $43,202,341.98. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,904 shares of company stock valued at $4,665,124 over the last 90 days. 0.30% of the stock is owned by insiders.

Micron Technology Company 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.