BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 212,324 shares of the semiconductor manufacturer's stock after purchasing an additional 27,316 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Micron Technology were worth $17,869,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC increased its position in Micron Technology by 12.6% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $667,000 after purchasing an additional 885 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Micron Technology in the 4th quarter valued at about $63,000. Waverly Advisors LLC raised its stake in shares of Micron Technology by 179.3% during the fourth quarter. Waverly Advisors LLC now owns 58,075 shares of the semiconductor manufacturer's stock worth $4,888,000 after buying an additional 37,285 shares during the last quarter. Wesleyan Assurance Society bought a new position in shares of Micron Technology in the 4th quarter worth $6,219,000. Finally, Woodline Partners LP increased its holdings in Micron Technology by 128.8% in the fourth quarter. Woodline Partners LP now owns 865,041 shares of the semiconductor manufacturer's stock valued at $72,802,000 after purchasing an additional 486,931 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird boosted their price objective 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. Rosenblatt Securities lowered their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Citigroup reduced their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, UBS Group dropped their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.48.

Insider Buying and Selling

In other Micron Technology news, 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 completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Down 1.5%

Micron Technology stock traded down $1.46 during trading hours on Monday, hitting $93.37. The stock had a trading volume of 16,534,270 shares, compared to its average volume of 23,517,093. The business's 50 day simple moving average is $82.82 and its 200-day simple moving average is $92.20. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The stock has a market cap of $104.35 billion, a price-to-earnings ratio of 26.91 and a beta of 1.21. 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 - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Micron Technology Company 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.