iA Global Asset Management Inc. Grows Position in Micron Technology, Inc. (NASDAQ:MU)

iA Global Asset Management Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,077 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,043 shares during the period. iA Global Asset Management Inc.’s holdings in Micron Technology were worth $10,106,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MU. Beacon Capital Management LLC lifted its position in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $33,000. Stone House Investment Management LLC increased its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Up 0.3 %

NASDAQ:MU opened at $102.06 on Thursday. The firm has a market cap of $113.71 billion, a PE ratio of 29.41 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $96.84 and a 200 day moving average price of $98.19. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.95) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company lowered their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. UBS Group increased their price target on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. Finally, Robert W. Baird lowered their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

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.