National Bank of Canada FI Sells 409,333 Shares of Micron Technology, Inc. (NASDAQ:MU)

National Bank of Canada FI lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,047,122 shares of the semiconductor manufacturer’s stock after selling 409,333 shares during the quarter. National Bank of Canada FI owned about 0.19% of Micron Technology worth $168,561,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. AJOVista LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $90,000. Provence Wealth Management Group acquired a new stake in Micron Technology in the fourth quarter valued at approximately $248,000. Sapient Capital LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $347,000. Axxcess Wealth Management LLC acquired a new position in Micron Technology in the 4th quarter worth about $307,000. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of Micron Technology by 2.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,373 shares of the semiconductor manufacturer’s stock valued at $1,312,000 after purchasing an additional 330 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of a number of analyst reports. Raymond James lifted their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Wedbush lifted their target price on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. TD Cowen increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Barclays lifted their price objective on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, Bank of America upped their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 323,890 shares of company stock valued at $36,079,267 over the last 90 days. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU traded up $2.37 during midday trading on Friday, hitting $114.70. 15,564,363 shares of the company traded hands, compared to its average volume of 21,228,284. Micron Technology, Inc. has a one year low of $59.55 and a one year high of $130.54. The firm has a market cap of $126.63 billion, a P/E ratio of -33.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock has a 50-day moving average of $108.95 and a 200-day moving average of $89.67.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for 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%. The business’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.03) earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

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.