Micron Technology, Inc. (NASDAQ:MU) Stock Position Lifted by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4,056.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,255 shares of the semiconductor manufacturer's stock after purchasing an additional 13,912 shares during the period. Itau Unibanco Holding S.A.'s holdings in Micron Technology were worth $1,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Keel Point LLC grew its position in Micron Technology by 62.2% during the 4th quarter. Keel Point LLC now owns 5,753 shares of the semiconductor manufacturer's stock worth $484,000 after purchasing an additional 2,207 shares during the last quarter. Westbourne Investments Inc. purchased a new position in shares of Micron Technology during the fourth quarter worth about $226,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Micron Technology by 201.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 702,259 shares of the semiconductor manufacturer's stock valued at $59,102,000 after acquiring an additional 469,669 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in Micron Technology by 10.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,127 shares of the semiconductor manufacturer's stock valued at $263,000 after acquiring an additional 296 shares during the last quarter. Finally, Triumph Capital Management lifted its position in Micron Technology by 214.7% during the 4th quarter. Triumph Capital Management now owns 7,000 shares of the semiconductor manufacturer's stock worth $589,000 after acquiring an additional 4,776 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 3.8 %

MU traded up $2.95 on Friday, reaching $80.72. The company's stock had a trading volume of 18,886,755 shares, compared to its average volume of 23,295,407. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The business's 50 day moving average is $83.63 and its 200 day moving average is $94.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market cap of $90.21 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The company 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 8.32% and a net margin of 13.34%. The business's revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Rosenblatt Securities cut their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. UBS Group decreased their target price on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday. Finally, China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a report on Wednesday, March 26th. Two equities research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.04.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 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.