Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 201.9% in the 4th quarter, HoldingsChannel reports. The firm owned 702,259 shares of the semiconductor manufacturer’s stock after purchasing an additional 469,669 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Micron Technology were worth $59,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC lifted its stake in shares of Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares during the period. Xcel Wealth Management LLC lifted its stake in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. grew its position in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC increased its stake in Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $77.77 on Friday. The company has a market cap of $86.91 billion, a P/E ratio of 22.41 and a beta of 1.18. 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, Inc. has a one year low of $61.54 and a one year high of $157.54. The business’s 50-day simple moving average is $83.88 and its 200 day simple moving average is $94.16.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 38.2% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.59%. Micron Technology’s dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MU shares. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Morgan Stanley raised their price target on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.04.

Micron Technology Company Profile

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.