Intact Investment Management Inc. Acquires 640 Shares of Micron Technology, Inc. (NASDAQ:MU)

Intact Investment Management Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,300 shares of the semiconductor manufacturer’s stock after purchasing an additional 640 shares during the period. Intact Investment Management Inc.’s holdings in Micron Technology were worth $530,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Micron Technology by 21.7% during the 3rd 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 valued at $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Micron Technology during the fourth quarter valued at $135,865,000. State Street Corp raised its position in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Micron Technology in the 3rd quarter worth about $102,018,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Up 6.2 %

Shares of MU opened at $100.79 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The company has a 50 day simple moving average of $96.72 and a two-hundred day simple moving average of $98.05. The firm has a market cap of $112.30 billion, a P/E ratio of 29.05 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the firm posted ($0.95) EPS. The company’s revenue was up 84.3% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Mizuho dropped their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. UBS Group dropped their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Finally, Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.56.

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.