UniSuper Management Pty Ltd Has $17.50 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

UniSuper Management Pty Ltd boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,919 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,436 shares during the period. UniSuper Management Pty Ltd’s holdings in Micron Technology were worth $17,498,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MU. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Micron Technology by 9.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,882,423 shares of the semiconductor manufacturer’s stock valued at $169,173,000 after acquiring an additional 155,326 shares in the last quarter. Blue Grotto Capital LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $12,923,000. Ausdal Financial Partners Inc. raised its position in Micron Technology by 5.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 6,207 shares of the semiconductor manufacturer’s stock worth $522,000 after purchasing an additional 296 shares during the last quarter. Motley Fool Wealth Management LLC acquired a new position in Micron Technology during the 4th quarter worth $16,928,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Micron Technology in the 4th quarter valued at $182,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of MU opened at $91.16 on Friday. The firm has a market cap of $101.88 billion, a P/E ratio of 26.27 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm’s 50 day moving average price is $96.35 and its two-hundred day moving average price is $98.36.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s payout ratio is presently 11.03%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MU shares. Mizuho cut their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Barclays upped their target price on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Finally, Stifel Nicolaus lowered their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

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.