Caisse DE Depot ET Placement DU Quebec Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Caisse DE Depot ET Placement DU Quebec raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 201.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 702,259 shares of the semiconductor manufacturer’s stock after buying an additional 469,669 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Micron Technology worth $59,102,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. E Fund Management Co. Ltd. lifted its stake in Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after acquiring an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after purchasing an additional 4,264 shares during the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. raised its stake in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after buying an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Micron Technology by 11.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock worth $42,280,000 after buying an additional 52,729 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 1.1 %

NASDAQ MU opened at $77.77 on Friday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The firm has a 50-day moving average price of $83.88 and a 200 day moving average price of $94.16. The stock has a market capitalization of $86.91 billion, a P/E ratio of 22.41 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly 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. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.59%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly 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 available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MU. Morgan Stanley raised their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Robert W. Baird upped their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, Wedbush restated an “underperform” rating on shares of Micron Technology in a research note on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.04.

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.