Cibc World Markets Corp Has $16.80 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Cibc World Markets Corp increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,629 shares of the semiconductor manufacturer’s stock after purchasing an additional 24,786 shares during the period. Cibc World Markets Corp’s holdings in Micron Technology were worth $16,801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebrook Private Inc. grew its stake in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the period. John G Ullman & Associates Inc. grew its position in Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the period. Trivant Custom Portfolio Group LLC raised its stake in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Xcel Wealth Management LLC lifted its holdings in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MU shares. 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 report on Thursday, December 19th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, UBS Group increased their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Trading Up 2.3 %

NASDAQ:MU opened at $103.11 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The firm has a market capitalization of $114.88 billion, a price-to-earnings ratio of 29.71 and a beta of 1.23. The business’s 50-day moving average price is $96.80 and its two-hundred day moving average price is $98.13.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate 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 last year, the company posted ($0.95) EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % 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.

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.