Alberta Investment Management Corp Sells 4,700 Shares of Micron Technology, Inc. (NASDAQ:MU)

Alberta Investment Management Corp lowered its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,000 shares of the semiconductor manufacturer's stock after selling 4,700 shares during the quarter. Alberta Investment Management Corp's holdings in Micron Technology were worth $2,609,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in Micron Technology during the third quarter valued at approximately $26,000. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 277 shares during the period. True Wealth Design LLC grew its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC grew its position in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Beacon Capital Management LLC increased its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MU shares. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Morgan Stanley cut their price objective on Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Needham & Company LLC lowered their target price on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology Trading Down 4.3 %

Micron Technology stock traded down $4.40 during trading hours on Friday, reaching $98.78. The stock had a trading volume of 18,633,227 shares, compared to its average volume of 22,918,740. The company has a fifty day simple moving average of $96.35 and a 200-day simple moving average of $98.70. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The stock has a market cap of $110.06 billion, a PE ratio of 28.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share 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 analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology's dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

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.