Micron Technology, Inc. (NASDAQ:MU) Holdings Trimmed by National Bank of Canada FI

National Bank of Canada FI cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,047,122 shares of the semiconductor manufacturer's stock after selling 409,333 shares during the quarter. National Bank of Canada FI owned about 0.19% of Micron Technology worth $168,561,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Micron Technology in the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology in the third quarter valued at approximately $28,000. VisionPoint Advisory Group LLC increased its holdings in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock worth $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. raised its position in Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer's stock worth $40,000 after buying an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC lifted its stake in Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer's stock valued at $42,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the transaction, the chief executive officer now owns 773,557 shares in the company, valued at $77,355,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares of the company's stock, valued at $77,355,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,890 shares of company stock worth $36,079,267. Insiders own 0.32% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $2.37 during trading on Friday, reaching $114.70. The stock had a trading volume of 15,564,363 shares, compared to its average volume of 21,228,284. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The stock has a market cap of $126.63 billion, a PE ratio of -33.25 and a beta of 1.27. The business has a fifty day moving average price of $108.95 and a 200-day moving average price of $89.67.

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

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the stock an "underweight" rating in a research note on Thursday, March 21st. KeyCorp increased their price target on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Barclays boosted their price objective on Micron Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a report on Monday, March 18th. Piper Sandler raised their target price on Micron Technology from $95.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $122.20.

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.