Micron Technology, Inc. (NASDAQ:MU) Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,375 shares of the semiconductor manufacturer's stock after buying an additional 7,983 shares during the period. OMERS ADMINISTRATION Corp's holdings in Micron Technology were worth $3,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Brookstone Capital Management lifted its stake in shares of Micron Technology by 8.8% in the fourth quarter. Brookstone Capital Management now owns 11,921 shares of the semiconductor manufacturer's stock valued at $1,003,000 after purchasing an additional 961 shares during the period. Capital Investment Advisors LLC increased its stake in Micron Technology by 7.5% in the 4th quarter. Capital Investment Advisors LLC now owns 6,317 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 439 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in Micron Technology by 59.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 7,201 shares of the semiconductor manufacturer's stock valued at $606,000 after purchasing an additional 2,687 shares in the last quarter. Wedmont Private Capital increased its stake in Micron Technology by 3.7% in the 4th quarter. Wedmont Private Capital now owns 13,369 shares of the semiconductor manufacturer's stock valued at $1,125,000 after purchasing an additional 482 shares in the last quarter. Finally, Cooper Financial Group increased its stake in Micron Technology by 8.8% in the 4th quarter. Cooper Financial Group now owns 12,553 shares of the semiconductor manufacturer's stock valued at $1,056,000 after purchasing an additional 1,020 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 0.1%

Micron Technology stock traded up $0.13 during trading on Thursday, reaching $95.45. 24,175,106 shares of the company's stock were exchanged, compared to its average volume of 23,485,428. The company's 50-day moving average is $82.78 and its two-hundred day moving average is $92.83. The firm has a market cap of $106.67 billion, a price-to-earnings ratio of 27.51 and a beta of 1.21. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week 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.

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 analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were 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 in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. UBS Group dropped their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. KGI Securities raised Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Citigroup lowered their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.