Columbus Circle Investors lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 24.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,405,517 shares of the semiconductor manufacturer’s stock after selling 770,918 shares during the period. Micron Technology makes up about 1.6% of Columbus Circle Investors’ holdings, making the stock its 10th biggest holding. Columbus Circle Investors owned 0.21% of Micron Technology worth $94,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in MU. Capital Research Global Investors lifted its holdings in shares of Micron Technology by 386.6% in the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after acquiring an additional 31,616,346 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Micron Technology by 292.8% in the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after acquiring an additional 8,834,274 shares during the last quarter. BT Investment Management Ltd bought a new stake in shares of Micron Technology in the 2nd quarter worth approximately $95,449,000. Pioneer Investment Management Inc. lifted its holdings in shares of Micron Technology by 298.4% in the 2nd quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock worth $77,347,000 after acquiring an additional 1,940,212 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its holdings in shares of Micron Technology by 7,981.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock worth $53,447,000 after acquiring an additional 1,759,521 shares during the last quarter. 75.45% of the stock is owned by institutional investors and hedge funds.
Micron Technology, Inc. (NASDAQ MU) traded down $0.04 during midday trading on Friday, reaching $46.14. 17,130,000 shares of the company’s stock traded hands, compared to its average volume of 34,620,000. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The stock has a market capitalization of $53,210.00, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.61 and a beta of 1.78. Micron Technology, Inc. has a 52 week low of $18.18 and a 52 week high of $46.55.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same period in the previous year, the firm earned ($0.01) earnings per share. Micron Technology’s quarterly revenue was up 90.8% compared to the same quarter last year. research analysts anticipate that Micron Technology, Inc. will post 7.42 EPS for the current fiscal year.
MU has been the subject of a number of recent analyst reports. Vetr lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price target for the company. in a report on Friday. The Goldman Sachs Group, Inc. upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a report on Tuesday, September 12th. Susquehanna Bancshares Inc upped their price target on shares of Micron Technology from $40.00 to $50.00 and gave the company a “positive” rating in a report on Tuesday, September 19th. UBS AG restated a “buy” rating and issued a $53.00 price objective (up from $39.50) on shares of Micron Technology in a report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “buy” rating and issued a $37.00 price objective on shares of Micron Technology in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Micron Technology has an average rating of “Buy” and a consensus price target of $47.12.
In related news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the sale, the director now directly owns 117,299 shares in the company, valued at $5,225,670.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the sale, the executive vice president now owns 140,232 shares of the company’s stock, valued at $4,767,888. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 308,415 shares of company stock valued at $11,836,825. Corporate insiders own 0.69% of the company’s stock.
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About Micron Technology
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