Cibc World Markets Corp Purchases 24,786 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cibc World Markets Corp raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,629 shares of the semiconductor manufacturer’s stock after acquiring an additional 24,786 shares during the quarter. Cibc World Markets Corp’s holdings in Micron Technology were worth $16,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Stonebrook Private Inc. boosted its holdings in Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the last quarter. John G Ullman & Associates Inc. boosted its stake in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC grew its holdings in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. Xcel Wealth Management LLC increased its position in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $103.11 on Tuesday. The firm has a 50 day moving average of $96.80 and a 200-day moving average of $98.13. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $114.88 billion, a PE ratio of 29.71 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.95) earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. Barclays dropped their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group reduced their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Needham & Company LLC dropped their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Cantor Fitzgerald reduced their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.16.

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.