Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Micron Technology, Inc. (NASDAQ:MU)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 18.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,242 shares of the semiconductor manufacturer’s stock after selling 171,020 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Micron Technology worth $65,811,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Better Money Decisions LLC purchased a new stake in Micron Technology during the 1st quarter valued at approximately $27,000. Vigilant Capital Management LLC purchased a new stake in Micron Technology during the 1st quarter valued at approximately $28,000. JJJ Advisors Inc. grew its holdings in Micron Technology by 98.7% during the 1st quarter. JJJ Advisors Inc. now owns 314 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 156 shares in the last quarter. DB Wealth Management Group LLC purchased a new stake in Micron Technology during the 4th quarter valued at approximately $30,000. Finally, Larson Financial Group LLC grew its holdings in Micron Technology by 4,133.3% during the 1st quarter. Larson Financial Group LLC now owns 381 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 372 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

In related news, SVP April S. Arnzen sold 8,300 shares of Micron Technology stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $80.95, for a total transaction of $671,885.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumit Sadana sold 31,490 shares of Micron Technology stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $79.33, for a total value of $2,498,101.70. Following the sale, the executive vice president now directly owns 125,625 shares of the company’s stock, valued at approximately $9,965,831.25. The disclosure for this sale can be found here. Insiders have sold 98,997 shares of company stock worth $8,454,200 in the last 90 days. Insiders own 0.30% of the company’s stock.

MU has been the subject of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Micron Technology from $80.00 to $90.00 and gave the company a “market perform” rating in a report on Monday, March 29th. Rosenblatt Securities reissued a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a report on Monday, March 29th. Royal Bank of Canada raised their target price on shares of Micron Technology from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 1st. Morgan Stanley raised their price target on Micron Technology from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, March 1st. Finally, TheStreet upgraded Micron Technology from a “c+” rating to a “b” rating in a research report on Wednesday, March 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.29.

MU opened at $79.28 on Friday. The company has a 50-day moving average of $85.48. Micron Technology, Inc. has a 1 year low of $42.25 and a 1 year high of $96.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.18 and a quick ratio of 2.31. The stock has a market capitalization of $88.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.02 and a beta of 1.25.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. Micron Technology had a return on equity of 9.81% and a net margin of 13.60%. The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, research analysts predict that Micron Technology, Inc. will post 5.27 earnings per share for the current fiscal year.

Micron Technology Profile

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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