Northwest & Ethical Investments L.P. Has $4.29 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Northwest & Ethical Investments L.P. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 41,327 shares of the semiconductor manufacturer’s stock after selling 17,317 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Micron Technology were worth $4,286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MU. Vinva Investment Management Ltd raised its stake in Micron Technology by 35.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 50,193 shares of the semiconductor manufacturer’s stock valued at $5,396,000 after purchasing an additional 13,034 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. Public Sector Pension Investment Board raised its position in shares of Micron Technology by 1,157.0% during the third quarter. Public Sector Pension Investment Board now owns 535,283 shares of the semiconductor manufacturer’s stock valued at $55,514,000 after buying an additional 492,700 shares during the last quarter. Tybourne Capital Management HK Ltd. lifted its stake in shares of Micron Technology by 62.9% in the third quarter. Tybourne Capital Management HK Ltd. now owns 25,884 shares of the semiconductor manufacturer’s stock valued at $2,684,000 after buying an additional 9,992 shares during the period. Finally, Fiduciary Trust Co grew its position in Micron Technology by 6.3% during the third quarter. Fiduciary Trust Co now owns 6,377 shares of the semiconductor manufacturer’s stock worth $661,000 after buying an additional 376 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $98.20 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The stock has a market cap of $108.88 billion, a price-to-earnings ratio of 144.41 and a beta of 1.18. The business’s 50-day simple moving average is $103.46 and its 200 day simple moving average is $111.71.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the company earned ($1.21) EPS. Micron Technology’s revenue was up 93.3% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley boosted their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. KeyCorp dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Raymond James lifted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Rosenblatt Securities increased their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

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.