Union Bancaire Privee UBP SA Takes $846,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Union Bancaire Privee UBP SA purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, Holdings Channel reports. The fund purchased 10,050 shares of the semiconductor manufacturer’s stock, valued at approximately $846,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harmony Asset Management LLC increased its holdings in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its holdings in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after acquiring an additional 40,802 shares in the last quarter. Stablepoint Partners LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $569,000. Finally, State Street Corp increased its holdings in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MU. JPMorgan Chase & Co. reduced their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus cut their price objective 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. Robert W. Baird cut their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Sanford C. Bernstein cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Down 3.5 %

Shares of MU opened at $95.41 on Tuesday. The company has a market cap of $106.30 billion, a PE ratio of 27.50 and a beta of 1.18. The business has a fifty day moving average of $96.02 and a 200 day moving average of $98.93. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology’s dividend payout ratio is presently 13.26%.

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.