Desjardins Global Asset Management Inc. Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Desjardins Global Asset Management Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 30.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,366 shares of the semiconductor manufacturer’s stock after selling 2,776 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Micron Technology were worth $543,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MU. Fortis Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $28,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at $32,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Raymond James increased their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Mizuho upped their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. TD Cowen upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock valued at $33,617,027 over the last 90 days. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Down 4.5 %

Micron Technology stock opened at $116.33 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a 50-day moving average price of $101.98 and a 200 day moving average price of $86.22. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last announced its 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 company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.03) earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

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