UG Investment Advisers Ltd. Has $50.44 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

UG Investment Advisers Ltd. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 24.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,315 shares of the semiconductor manufacturer’s stock after acquiring an additional 95,643 shares during the quarter. Micron Technology accounts for about 18.9% of UG Investment Advisers Ltd.’s investment portfolio, making the stock its 4th largest holding. UG Investment Advisers Ltd.’s holdings in Micron Technology were worth $50,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth about $28,000. Highline Wealth Partners LLC acquired a new position in Micron Technology during the third quarter valued at approximately $26,000. Richard W. Paul & Associates LLC boosted its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. LRI Investments LLC boosted its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Davis Capital Management acquired a new position in Micron Technology during the third quarter valued at approximately $30,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MU shares. Susquehanna dropped their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Finally, BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Trading Up 0.1 %

NASDAQ MU opened at $99.73 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $69.75 and a twelve month high of $157.54. The company has a market cap of $110.57 billion, a price-to-earnings ratio of 146.66 and a beta of 1.18. The business’s fifty day moving average is $98.94 and its 200 day moving average is $113.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the business posted ($1.21) EPS. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is presently 67.65%.

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.