CANADA LIFE ASSURANCE Co Trims Stock Position in Micron Technology, Inc. (NASDAQ:MU)

CANADA LIFE ASSURANCE Co lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 22.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 952,135 shares of the semiconductor manufacturer’s stock after selling 271,711 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Micron Technology were worth $80,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ally Financial Inc. increased its position in Micron Technology by 11.1% in the fourth quarter. Ally Financial Inc. now owns 20,000 shares of the semiconductor manufacturer’s stock worth $1,683,000 after buying an additional 2,000 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Micron Technology during the 4th quarter valued at approximately $151,000. Strategic Investment Solutions Inc. IL increased its holdings in Micron Technology by 108.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 672 shares of the semiconductor manufacturer’s stock worth $57,000 after acquiring an additional 349 shares in the last quarter. Farringdon Capital Ltd. bought a new stake in Micron Technology during the 4th quarter worth approximately $267,000. Finally, MSH Capital Advisors LLC purchased a new position in Micron Technology during the fourth quarter valued at approximately $401,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In other Micron Technology 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 completion of the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction 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. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $68.80 on Friday. The stock has a 50 day moving average price of $88.74 and a 200-day moving average price of $96.14. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The stock has a market cap of $76.89 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MU shares. Rosenblatt Securities reduced their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Wedbush restated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.36.

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.