CI Investments Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,733,519 shares of the semiconductor manufacturer’s stock after buying an additional 69,584 shares during the period. CI Investments Inc. owned approximately 0.16% of Micron Technology worth $95,829,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of MU. Wagner Wealth Management LLC purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $29,000. Core Alternative Capital grew its stake in shares of Micron Technology by 912.5% during the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 365 shares during the period. BDO Wealth Advisors LLC increased its holdings in shares of Micron Technology by 46.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 140 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of Micron Technology in the second quarter valued at about $40,000. Finally, Bellevue Asset Management LLC boosted its holdings in Micron Technology by 174.6% during the first quarter. Bellevue Asset Management LLC now owns 574 shares of the semiconductor manufacturer’s stock worth $45,000 after buying an additional 365 shares in the last quarter. 79.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Needham & Company LLC boosted their price target on Micron Technology from $60.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, November 16th. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $56.00 to $54.00 and set a “hold” rating on the stock in a research note on Friday, September 30th. BMO Capital Markets cut their price objective on shares of Micron Technology from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, September 30th. Summit Insights raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Micron Technology from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $69.97.
Micron Technology Stock Performance
Micron Technology (NASDAQ:MU – Get Rating) last issued its quarterly earnings data on Thursday, September 29th. The semiconductor manufacturer reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.04. Micron Technology had a net margin of 28.24% and a return on equity of 18.75%. The firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.78 billion. During the same quarter in the prior year, the business earned $2.37 EPS. The business’s quarterly revenue was down 19.7% on a year-over-year basis. As a group, research analysts predict that Micron Technology, Inc. will post -0.39 earnings per share for the current year.
Micron Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Investors of record on Tuesday, October 11th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, October 7th. Micron Technology’s dividend payout ratio is currently 5.95%.
About Micron Technology
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 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.
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