Mitsubishi UFJ Asset Management Co. Ltd. Buys 67,523 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175,594 shares of the semiconductor manufacturer's stock after buying an additional 67,523 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Micron Technology worth $96,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Financial Group Inc. grew its position in shares of Micron Technology by 3,326.3% in the 4th quarter. Sumitomo Mitsui Financial Group Inc. now owns 16,275 shares of the semiconductor manufacturer's stock worth $1,400,000 after acquiring an additional 15,800 shares in the last quarter. Westpac Banking Corp increased its stake in Micron Technology by 6.3% during the fourth quarter. Westpac Banking Corp now owns 7,586 shares of the semiconductor manufacturer's stock valued at $647,000 after purchasing an additional 450 shares during the last quarter. Keystone Investors PTE Ltd. acquired a new stake in Micron Technology during the fourth quarter worth about $438,000. Pacific Global Investment Management Co. bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $204,000. Finally, Avantax Advisory Services Inc. raised its position in shares of Micron Technology by 5.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 25,192 shares of the semiconductor manufacturer's stock worth $2,150,000 after purchasing an additional 1,362 shares during the period. Institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $91.54, for a total transaction of $640,780.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at $72,184,507.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the transaction, the executive vice president now directly owns 260,857 shares of the company's stock, valued at approximately $30,981,985.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $91.54, for a total transaction of $640,780.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $72,184,507.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 395,446 shares of company stock worth $45,156,253. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ MU traded up $1.81 during trading on Tuesday, hitting $124.81. The company's stock had a trading volume of 13,869,298 shares, compared to its average volume of 19,832,146. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $130.54. The firm has a market cap of $138.21 billion, a P/E ratio of -36.18 and a beta of 1.27. The firm has a 50 day moving average price of $112.31 and a 200 day moving average price of $92.22. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business's quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the business posted ($2.03) EPS. Equities research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is presently -13.33%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MU shares. Morgan Stanley lifted their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the company an "underweight" rating in a research report on Thursday, March 21st. Mizuho boosted their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Robert W. Baird upgraded Micron Technology from a "neutral" rating to an "outperform" rating and raised their target price for the company from $115.00 to $150.00 in a research report on Monday, May 6th. Bank of America boosted their price target on Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Finally, Argus raised Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $124.60.

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.