Caisse Des Depots ET Consignations Acquires Shares of 107,291 Micron Technology, Inc. (NASDAQ:MU)

Caisse Des Depots ET Consignations purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 107,291 shares of the semiconductor manufacturer’s stock, valued at approximately $9,030,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after acquiring an additional 888,087 shares during the last quarter. State Street Corp grew its holdings in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Geode Capital Management LLC raised its stake in Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Micron Technology by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after buying an additional 144,897 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Down 2.2 %

Micron Technology stock opened at $92.13 on Thursday. The stock has a 50-day moving average price of $96.58 and a 200 day moving average price of $98.41. 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 market cap of $102.65 billion, a PE ratio of 26.55 and a beta of 1.23. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MU. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. Piper Sandler cut their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Needham & Company LLC lowered their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.96.

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 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.