Desjardins Global Asset Management Inc. Sells 2,776 Shares of Micron Technology, Inc. (NASDAQ:MU)

Desjardins Global Asset Management Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,366 shares of the semiconductor manufacturer’s stock after selling 2,776 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Micron Technology were worth $543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortis Capital Advisors LLC bought a new position in Micron Technology in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Micron Technology in the third quarter valued at approximately $28,000. Coppell Advisory Solutions LLC bought a new position in Micron Technology in the second quarter valued at approximately $32,000. Finally, VisionPoint Advisory Group LLC lifted its stake in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $116.33 on Thursday. The firm has a 50-day moving average of $101.98 and a 200-day moving average of $86.22. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

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

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on MU shares. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Mizuho lifted their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock valued at $33,617,027 over the last quarter. 0.32% of the stock is owned by company 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.