Scotia Capital Inc. Sells 15,565 Shares of Micron Technology, Inc. (NASDAQ:MU)

Scotia Capital Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,780 shares of the semiconductor manufacturer’s stock after selling 15,565 shares during the period. Scotia Capital Inc.’s holdings in Micron Technology were worth $7,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Coldstream Capital Management Inc. grew its stake in shares of Micron Technology by 18.4% in the third quarter. Coldstream Capital Management Inc. now owns 15,252 shares of the semiconductor manufacturer’s stock worth $1,573,000 after purchasing an additional 2,372 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Micron Technology by 30.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,260 shares of the semiconductor manufacturer’s stock valued at $131,000 after buying an additional 292 shares during the last quarter. Soltis Investment Advisors LLC increased its stake in shares of Micron Technology by 6.1% in the third quarter. Soltis Investment Advisors LLC now owns 2,808 shares of the semiconductor manufacturer’s stock valued at $291,000 after buying an additional 161 shares during the period. SOA Wealth Advisors LLC. raised its position in shares of Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after acquiring an additional 325 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its position in shares of Micron Technology by 3.7% during the third quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock worth $694,000 after acquiring an additional 241 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the business’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 transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, 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. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on MU shares. Barclays increased their target price on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. UBS Group lifted their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. Finally, Robert W. Baird boosted their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $70.05 on Friday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week 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 business has a 50 day moving average price of $91.08 and a 200-day moving average price of $97.27. The company has a market cap of $78.29 billion, a PE ratio of 20.19 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.