Northwest & Ethical Investments L.P. Sells 39,427 Shares of Micron Technology, Inc. (NASDAQ:MU)

Northwest & Ethical Investments L.P. cut its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 95.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the semiconductor manufacturer's stock after selling 39,427 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Micron Technology were worth $160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Harmony Asset Management LLC grew its position in shares of 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 buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. grew its holdings in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock worth $4,252,000 after purchasing an additional 29,000 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $569,000. Finally, State Street Corp boosted its position in shares of 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 purchasing an additional 1,434,568 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MU shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. The Goldman Sachs Group decreased their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Citigroup reduced their price target on shares of Micron Technology from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, March 21st. KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $129.96.

Micron Technology Price Performance

Shares of MU traded down $2.05 during mid-day trading on Wednesday, reaching $92.13. The stock had a trading volume of 27,066,556 shares, compared to its average volume of 22,388,110. The firm has a market cap of $102.65 billion, a price-to-earnings ratio of 26.55 and a beta of 1.23. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The business has a fifty day moving average of $96.80 and a 200 day moving average of $98.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by company 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.