Mondrian Capital Management LLC Takes $4.25 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Mondrian Capital Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 110,000 shares of the semiconductor manufacturer’s stock, valued at approximately $4,245,000. Micron Technology comprises approximately 2.1% of Mondrian Capital Management LLC’s investment portfolio, making the stock its 21st largest position.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Micron Technology by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,570,069 shares of the semiconductor manufacturer’s stock worth $430,599,000 after acquiring an additional 115,976 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Micron Technology by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock valued at $463,429,000 after purchasing an additional 229,817 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. First Manhattan Co. lifted its holdings in shares of Micron Technology by 22.7% in the 1st quarter. First Manhattan Co. now owns 3,559 shares of the semiconductor manufacturer’s stock valued at $147,000 after purchasing an additional 659 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of Micron Technology by 15.8% in the 1st quarter. Leavell Investment Management Inc. now owns 11,000 shares of the semiconductor manufacturer’s stock valued at $455,000 after purchasing an additional 1,500 shares during the last quarter. 77.42% of the stock is owned by institutional investors and hedge funds.

MU stock traded up $1.41 during midday trading on Friday, reaching $43.65. The company had a trading volume of 12,136,809 shares, compared to its average volume of 29,282,950. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $43.11 and a 200 day moving average price of $40.07. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $53.68. The firm has a market capitalization of $47.93 billion, a PE ratio of 3.69 and a beta of 1.96.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The business’s revenue for the quarter was down 38.6% compared to the same quarter last year. During the same period last year, the business posted $3.15 earnings per share. Research analysts predict that Micron Technology, Inc. will post 6.06 EPS for the current year.

MU has been the subject of several analyst reports. Nomura reduced their price objective on Micron Technology from $45.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Goldman Sachs Group downgraded Micron Technology from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $31.00 to $48.00 in a research note on Tuesday, July 30th. ValuEngine raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $50.00 target price on shares of Micron Technology in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.27.

In other news, insider Joel L. Poppen sold 654 shares of Micron Technology stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $45.64, for a total value of $29,848.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now directly owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The disclosure for this sale can be found here. In the last three months, insiders sold 57,244 shares of company stock valued at $2,624,899. Insiders own 0.20% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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