Scotia Capital Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,780 shares of the semiconductor manufacturer's stock after selling 15,565 shares during the quarter. Scotia Capital Inc.'s holdings in Micron Technology were worth $7,135,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after acquiring an additional 888,087 shares during the last quarter. FMR LLC grew its holdings in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares during the period. Norges Bank acquired a new stake in shares of Micron Technology in the fourth quarter worth $1,470,875,000. Finally, Invesco Ltd. boosted its holdings in Micron Technology by 1.7% during the fourth quarter. Invesco Ltd. now owns 10,207,903 shares of the semiconductor manufacturer's stock valued at $859,097,000 after acquiring an additional 175,187 shares during the period. Institutional investors own 80.84% of the company's stock.
Insider Activity at Micron Technology
In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages recently issued reports on MU. Wedbush reiterated an "outperform" rating and set a $125.00 target price on shares of Micron Technology in a research note on Monday, March 17th. Robert W. Baird lifted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Wells Fargo & Company decreased their target price on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group cut their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $129.36.
Get Our Latest Stock Analysis on Micron Technology
Micron Technology Trading Up 1.0 %
Micron Technology stock traded up $0.70 during mid-day trading on Tuesday, hitting $71.72. 8,467,725 shares of the stock were exchanged, compared to its average volume of 23,220,102. The firm's fifty day simple moving average is $90.21 and its two-hundred day simple moving average is $96.75. 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, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The stock has a market capitalization of $80.15 billion, a price-to-earnings ratio of 20.67 and a beta of 1.18.
Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business posted $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.64%. Micron Technology's payout ratio is presently 11.03%.
About Micron Technology
(
Free Report)
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.
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