OMERS ADMINISTRATION Corp Acquires 7,983 Shares of Micron Technology, Inc. (NASDAQ:MU)

OMERS ADMINISTRATION Corp grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,375 shares of the semiconductor manufacturer's stock after purchasing 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.

Several other hedge funds and other institutional investors have also modified their holdings of the company. E Fund Management Co. Ltd. lifted its position 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 worth $3,062,000 after purchasing an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position 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 worth $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. lifted its position 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 worth $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $34,412,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on MU shares. Robert W. Baird lifted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Citigroup dropped their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. UBS Group dropped their price target on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Two equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $126.48.

Micron Technology Stock Up 2.7%

Shares of MU traded up $2.55 during trading hours on Friday, reaching $98.00. The company's stock had a trading volume of 22,499,609 shares, compared to its average volume of 23,551,477. The firm has a market cap of $109.52 billion, a price-to-earnings ratio of 28.24 and a beta of 1.21. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. 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 company has a 50 day moving average of $83.13 and a two-hundred day moving average of $92.56.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company'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 approximately $2,542,378.94. The trade was a 8.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is currently owned by corporate insiders.

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.