Bank of Montreal Can Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Bank of Montreal Can grew its position in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,802,498 shares of the semiconductor manufacturer’s stock after purchasing an additional 663,476 shares during the period. Bank of Montreal Can owned approximately 0.43% of Micron Technology worth $451,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new position in Micron Technology in the third quarter worth $251,000. New World Advisors LLC purchased a new position in Micron Technology in the third quarter worth $339,000. Massachusetts Financial Services Co. MA grew its position in Micron Technology by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 523,151 shares of the semiconductor manufacturer’s stock worth $37,133,000 after acquiring an additional 5,266 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Micron Technology by 10.4% in the third quarter. Orion Portfolio Solutions LLC now owns 4,426 shares of the semiconductor manufacturer’s stock worth $314,000 after acquiring an additional 418 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Micron Technology by 14.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 21,452 shares of the semiconductor manufacturer’s stock worth $1,523,000 after acquiring an additional 2,701 shares in the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.

In related news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $76.00, for a total value of $425,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert P. Beard sold 266 shares of Micron Technology stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $96.17, for a total value of $25,581.22. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Shares of NASDAQ MU traded up $4.01 on Tuesday, reaching $74.48. 17,638,422 shares of the company’s stock traded hands, compared to its average volume of 22,269,625. Micron Technology, Inc. has a 12 month low of $65.67 and a 12 month high of $98.45. The business’s 50 day simple moving average is $73.45 and its two-hundred day simple moving average is $81.42. The company has a market cap of $83.17 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.25 and a beta of 1.18. The company has a quick ratio of 2.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.15.

Micron Technology (NASDAQ:MUGet Rating) last issued its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $1.85 by $0.20. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. Analysts forecast that Micron Technology, Inc. will post 9.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, April 8th. Micron Technology’s payout ratio is 5.03%.

Several analysts have issued reports on MU shares. Morgan Stanley upped their price target on shares of Micron Technology from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 30th. Sanford C. Bernstein upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research report on Wednesday, March 16th. Rosenblatt Securities restated a “buy” rating and set a $165.00 price target on shares of Micron Technology in a research report on Wednesday, March 30th. Susquehanna restated a “buy” rating and set a $115.00 price target on shares of Micron Technology in a research report on Monday. Finally, Wedbush upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and upped their price target for the company from $100.00 to $120.00 in a research report on Monday, February 14th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $112.92.

About Micron Technology (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

See Also

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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