Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 120,077 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,043 shares during the period. iA Global Asset Management Inc.’s holdings in Micron Technology were worth $10,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MU. Swedbank AB increased its position in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after acquiring an additional 806,639 shares during the period. Quest Partners LLC increased its position in Micron Technology by 1,485.2% during the 3rd quarter. Quest Partners LLC now owns 8,243 shares of the semiconductor manufacturer’s stock worth $855,000 after purchasing an additional 7,723 shares during the period. Pathstone Holdings LLC increased its position in Micron Technology by 1.1% during the 3rd quarter. Pathstone Holdings LLC now owns 208,683 shares of the semiconductor manufacturer’s stock worth $21,643,000 after purchasing an additional 2,182 shares during the period. OneAscent Financial Services LLC acquired a new position in Micron Technology during the 3rd quarter worth approximately $203,000. Finally, Fifth Third Wealth Advisors LLC increased its position in Micron Technology by 3.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 20,422 shares of the semiconductor manufacturer’s stock worth $2,118,000 after purchasing an additional 752 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 0.3 %

Shares of Micron Technology stock opened at $102.06 on Thursday. The firm has a market cap of $113.71 billion, a PE ratio of 29.41 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average is $96.84 and its two-hundred day moving average is $98.19. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

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

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. 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 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on MU. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC decreased their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $134.16.

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.