Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. trimmed its stake in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 51.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 84,134 shares of the semiconductor manufacturer’s stock after selling 87,591 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Micron Technology were worth $4,215,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MU. Renaissance Technologies LLC bought a new stake in Micron Technology in the third quarter valued at $374,114,000. Fairfax Financial Holdings Ltd. Can lifted its stake in Micron Technology by 399.3% in the third quarter. Fairfax Financial Holdings Ltd. Can now owns 3,462,049 shares of the semiconductor manufacturer’s stock valued at $173,483,000 after buying an additional 2,768,649 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Micron Technology by 3,953.3% in the third quarter. Pacer Advisors Inc. now owns 2,665,173 shares of the semiconductor manufacturer’s stock valued at $133,525,000 after buying an additional 2,599,420 shares during the last quarter. FIFTHDELTA Ltd lifted its stake in Micron Technology by 288.7% in the second quarter. FIFTHDELTA Ltd now owns 3,377,400 shares of the semiconductor manufacturer’s stock valued at $186,703,000 after buying an additional 2,508,600 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Micron Technology in the third quarter valued at $111,372,000. 78.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $62.23, for a total transaction of $1,244,600.00. Following the completion of the sale, the executive vice president now directly owns 248,340 shares in the company, valued at approximately $15,454,198.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP April S. Arnzen sold 24,000 shares of Micron Technology stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the completion of the sale, the senior vice president now directly owns 118,885 shares in the company, valued at approximately $7,360,170.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $62.23, for a total value of $1,244,600.00. Following the sale, the executive vice president now owns 248,340 shares of the company’s stock, valued at $15,454,198.20. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock valued at $3,982,190 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 0.3 %

Shares of MU opened at $54.13 on Thursday. The business’s 50-day moving average price is $58.57 and its 200 day moving average price is $55.78. The stock has a market capitalization of $59.07 billion, a P/E ratio of 9.82 and a beta of 1.39. Micron Technology, Inc. has a 1-year low of $48.43 and a 1-year high of $86.24. The company has a current ratio of 3.51, a quick ratio of 2.23 and a debt-to-equity ratio of 0.20.

Micron Technology (NASDAQ:MU – Get Rating) last issued its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the prior year, the business posted $2.07 EPS. The company’s revenue for the quarter was down 46.9% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post -2.71 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.85%. Micron Technology’s dividend payout ratio (DPR) is presently 8.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Credit Suisse Group set a $66.00 target price on Micron Technology in a research note on Tuesday, January 3rd. Cowen cut their price objective on shares of Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, December 22nd. Needham & Company LLC lifted their price objective on shares of Micron Technology from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, November 16th. Argus cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 30th. Finally, Stifel Nicolaus cut their price objective on shares of Micron Technology from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, December 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

About Micron Technology

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.