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

Mackenzie Financial Corp reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,160 shares of the semiconductor manufacturer's stock after selling 54,769 shares during the quarter. Mackenzie Financial Corp's holdings in Micron Technology were worth $12,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MU. E Fund Management Co. Ltd. grew its holdings in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after buying an additional 4,264 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after buying an additional 28,621 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $34,412,000. Finally, SeaBridge Investment Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $240,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,808 shares of company stock worth $1,858,424. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of MU traded down $2.38 during mid-day trading on Friday, hitting $94.42. 23,746,837 shares of the company were exchanged, compared to its average volume of 23,534,417. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a 50 day moving average of $82.55 and a 200-day moving average of $91.92. The stock has a market cap of $105.52 billion, a price-to-earnings ratio of 27.21 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company's revenue for the quarter was up 38.2% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MU has been the topic of several recent research reports. Citigroup lowered their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Two 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 company. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average target price of $126.48.

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.