Healthcare of Ontario Pension Plan Trust Fund Sells 138,938 Shares of Micron Technology, Inc. (NASDAQ:MU)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 31.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,788 shares of the semiconductor manufacturer’s stock after selling 138,938 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Micron Technology were worth $31,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the 2nd quarter worth about $28,000. Davis Capital Management purchased a new position in shares of Micron Technology in the 3rd quarter worth about $30,000. Richard W. Paul & Associates LLC boosted its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC boosted its holdings in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley upped their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Bank of America upped their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.04.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 3.5 %

MU stock opened at $98.20 on Thursday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $103.28 and its 200 day moving average is $111.80. The stock has a market cap of $108.88 billion, a price-to-earnings ratio of 144.41 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.21) earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

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.