Dupont Capital Management Corp reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.0% in the 4th quarter, Holdings Channel reports. The firm owned 48,518 shares of the semiconductor manufacturer’s stock after selling 19,813 shares during the quarter. Dupont Capital Management Corp’s holdings in Micron Technology were worth $1,995,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Janus Henderson Group PLC raised its position in Micron Technology by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock worth $476,863,000 after purchasing an additional 274,086 shares during the last quarter. CI Investments Inc. raised its position in Micron Technology by 0.5% during the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock worth $297,740,000 after purchasing an additional 35,300 shares during the last quarter. Legal & General Group Plc raised its position in Micron Technology by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock worth $221,856,000 after purchasing an additional 94,517 shares during the last quarter. Greenlight Capital Inc. raised its position in Micron Technology by 89.5% during the 3rd quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after purchasing an additional 2,371,900 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in Micron Technology by 9.6% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,580,165 shares of the semiconductor manufacturer’s stock worth $180,137,000 after purchasing an additional 401,028 shares during the last quarter. 81.05% of the stock is owned by institutional investors and hedge funds.
Micron Technology, Inc. (MU) opened at $39.40 on Tuesday. Micron Technology, Inc. has a 1 year low of $22.64 and a 1 year high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The company has a market cap of $45,560.00, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 0.42 and a beta of 1.62.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. The company had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. Micron Technology’s revenue was up 71.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. sell-side analysts forecast that Micron Technology, Inc. will post 9.78 earnings per share for the current year.
Several research analysts have recently weighed in on MU shares. Wells Fargo & Co reissued a “buy” rating and issued a $54.00 price objective (up from $45.00) on shares of Micron Technology in a research report on Wednesday, December 20th. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price objective for the company in a research report on Wednesday, October 25th. Finally, Cowen set a $50.00 price objective on Micron Technology and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $55.66.
In related news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $43.17, for a total value of $129,510.00. Following the sale, the director now owns 109,921 shares of the company’s stock, valued at approximately $4,745,289.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. Insiders sold a total of 158,720 shares of company stock worth $6,782,100 in the last ninety days. 0.53% of the stock is currently owned by insiders.
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Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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