Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 332,832 shares of the semiconductor manufacturer’s stock after selling 59,408 shares during the quarter. Mackenzie Financial Corp’s holdings in Micron Technology were worth $28,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after acquiring an additional 305,860 shares during the last quarter. State Street Corp lifted its stake in shares of Micron Technology by 2.4% during the first quarter. State Street Corp now owns 45,911,286 shares of the semiconductor manufacturer’s stock valued at $2,770,316,000 after buying an additional 1,074,820 shares during the period. FMR LLC lifted its stake in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares during the period. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 1.3% during the first quarter. Geode Capital Management LLC now owns 20,348,845 shares of the semiconductor manufacturer’s stock valued at $1,225,181,000 after buying an additional 253,179 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 4.5 %

MU stock opened at $116.33 on Thursday. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54. The company has a market capitalization of $128.82 billion, a price-to-earnings ratio of -33.72 and a beta of 1.27. The firm’s 50-day moving average is $101.98 and its two-hundred day moving average is $86.22. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.03) EPS. On average, analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio is currently -13.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MU shares. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Bank of America raised their price target on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a report on Monday, April 1st. Mizuho raised their price target on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. Finally, Evercore ISI raised their price target on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $70,970,130. The disclosure for this sale can be found here. Insiders have sold 313,890 shares of company stock valued at $33,617,027 in the last quarter. Insiders own 0.32% of the company’s stock.

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.