Tredje AP fonden boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 49.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 83,611 shares of the semiconductor manufacturer’s stock after buying an additional 27,830 shares during the quarter. Tredje AP fonden’s holdings in Micron Technology were worth $4,497,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sanders Capital LLC raised its stake in Micron Technology by 256.9% in the 4th quarter. Sanders Capital LLC now owns 18,507,152 shares of the semiconductor manufacturer’s stock valued at $1,091,353,000 after acquiring an additional 13,321,570 shares during the period. Boston Partners lifted its position in shares of Micron Technology by 9,655.1% during the fourth quarter. Boston Partners now owns 7,641,070 shares of the semiconductor manufacturer’s stock worth $411,055,000 after purchasing an additional 7,562,741 shares during the last quarter. FIL Ltd lifted its position in shares of Micron Technology by 155.9% during the fourth quarter. FIL Ltd now owns 3,137,913 shares of the semiconductor manufacturer’s stock worth $168,757,000 after purchasing an additional 1,911,865 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Micron Technology by 43,294.5% during the third quarter. Point72 Asset Management L.P. now owns 1,780,475 shares of the semiconductor manufacturer’s stock worth $76,293,000 after purchasing an additional 1,776,372 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. bought a new position in shares of Micron Technology during the third quarter worth about $47,696,000. 74.79% of the stock is currently owned by hedge funds and other institutional investors.
MU stock traded down $2.92 during midday trading on Tuesday, reaching $52.09. The company had a trading volume of 36,609,035 shares, compared to its average volume of 24,346,146. Micron Technology, Inc. has a 1 year low of $32.14 and a 1 year high of $61.19. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $57.73 billion, a P/E ratio of 16.91 and a beta of 1.92. The company has a 50 day moving average of $57.06 and a two-hundred day moving average of $49.78.
Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The company’s revenue was down 35.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 2.15 earnings per share for the current year.
In other Micron Technology news, SVP Joel L. Poppen sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total value of $1,139,400.00. Following the sale, the senior vice president now directly owns 301,395 shares in the company, valued at approximately $17,170,473.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 4,400 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $60.00, for a total transaction of $264,000.00. Following the completion of the sale, the senior vice president now owns 83,880 shares in the company, valued at $5,032,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,400 shares of company stock valued at $2,503,400. Insiders own 0.18% of the company’s stock.
Several equities analysts have recently commented on MU shares. Deutsche Bank reaffirmed a “buy” rating and set a $65.00 price target (up previously from $55.00) on shares of Micron Technology in a research report on Thursday, December 19th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price objective on shares of Micron Technology in a research note on Thursday, December 19th. Cowen upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $70.00 in a research note on Tuesday, January 7th. Cascend Securities raised their price objective on shares of Micron Technology from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Micron Technology in a research note on Thursday, December 19th. Six analysts have rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.83.
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.
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