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

Caisse DE Depot ET Placement DU Quebec cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 49.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,590 shares of the semiconductor manufacturer’s stock after selling 226,930 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Micron Technology were worth $24,122,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $28,000. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $26,000. Richard W. Paul & Associates LLC raised its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. LRI Investments LLC lifted its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Finally, Davis Capital Management purchased a new position in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MU. Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. China Renaissance began coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Morgan Stanley raised their target price on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Raymond James increased their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 0.3 %

Shares of Micron Technology stock opened at $97.95 on Monday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $103.60 and a 200-day simple moving average of $111.32. The stock has a market cap of $109.12 billion, a price-to-earnings ratio of 144.05 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

Micron Technology 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.