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

Northwest & Ethical Investments L.P. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 95.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,900 shares of the semiconductor manufacturer’s stock after selling 39,427 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Micron Technology were worth $160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after acquiring an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after purchasing an additional 144,897 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Micron Technology by 4.6% in the third quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock valued at $789,054,000 after purchasing an additional 321,955 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Down 8.0 %

NASDAQ MU opened at $94.72 on Friday. The stock has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The stock has a 50 day simple moving average of $96.82 and a two-hundred day simple moving average of $98.28. 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) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS 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 company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business 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 $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Analyst Ratings Changes

A number of brokerages have recently commented on MU. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Barclays increased their target price on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted 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. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Robert W. Baird raised their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.