Alberta Investment Management Corp Has $2.10 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Alberta Investment Management Corp reduced its position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 89.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,600 shares of the semiconductor manufacturer’s stock after selling 219,313 shares during the quarter. Alberta Investment Management Corp’s holdings in Micron Technology were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. Tidemark LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $25,000. Pingora Partners LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the third quarter valued at approximately $28,000. VisionPoint Advisory Group LLC raised its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares during the period. Finally, Clear Street Markets LLC boosted its position in shares of Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 251 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MU shares. Citigroup reiterated a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a report on Thursday, April 4th. Wells Fargo & Company upped their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley raised shares of Micron Technology from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $98.00 to $130.00 in a research report on Monday, May 20th. Stifel Nicolaus reissued a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. Finally, Robert W. Baird upgraded Micron Technology from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $115.00 to $150.00 in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.12.

Check Out Our Latest Research Report on MU

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $95,015,134.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total value of $924,980.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $95,015,134.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,446 shares of company stock valued at $48,482,523. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $1.29 during midday trading on Friday, hitting $125.00. The stock had a trading volume of 24,153,782 shares, compared to its average volume of 14,012,557. The company’s 50-day moving average price is $120.87 and its 200-day moving average price is $97.72. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $133.30. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $138.42 billion, a P/E ratio of -36.23 and a beta of 1.27.

Micron Technology (NASDAQ:MUGet Free Report) last posted 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 during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.03) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company 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. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

About Micron Technology

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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