107,291 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel reports. The fund acquired 107,291 shares of the semiconductor manufacturer’s stock, valued at approximately $9,030,000.

Other hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares during the period. Raymond James Financial Inc. bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $135,865,000. State Street Corp raised its position in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new position in Micron Technology during the 3rd quarter valued at approximately $102,018,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Citigroup reduced their target price on shares of Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group dropped their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

Micron Technology Stock Performance

MU stock opened at $92.13 on Thursday. The firm has a 50 day moving average of $96.58 and a two-hundred day moving average of $98.41. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a market capitalization of $102.65 billion, a price-to-earnings ratio of 26.55 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s payout ratio is currently 11.03%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.