Micron Technology, Inc. (NASDAQ:MU) Holdings Raised by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Micron Technology, Inc. (NASDAQ:MU) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,687 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,527 shares during the quarter. Mackenzie Financial Corp’s holdings in Micron Technology were worth $13,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its position in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. FMR LLC boosted its position in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital Research Global Investors boosted its position in Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares during the period. Capital International Investors boosted its position in Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 198.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer’s stock valued at $550,903,000 after purchasing an additional 4,352,225 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company’s stock, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,446 shares of company stock worth $34,871,597 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

MU opened at $114.74 on Thursday. The company has a market cap of $128.41 billion, a PE ratio of 20.67 and a beta of 1.35. The stock has a 50-day moving average of $113.85 and a 200-day moving average of $97.84. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s payout ratio is 8.29%.

Wall Street Analyst Weigh In

MU has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their price target on Micron Technology from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Robert W. Baird boosted their price target on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Bank of America boosted their price target on Micron Technology from $84.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. Finally, Raymond James Financial boosted their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.44.

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.