Micron Technology, Inc. (MU) Stake Decreased by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,974 shares of the semiconductor manufacturer’s stock after selling 61,918 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Micron Technology were worth $8,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Capital Research Global Investors increased its position in Micron Technology by 386.6% during the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after acquiring an additional 31,616,346 shares during the last quarter. Janus Henderson Group PLC increased its position in Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after acquiring an additional 8,834,274 shares during the last quarter. BT Investment Management Ltd purchased a new stake in Micron Technology during the second quarter valued at $95,449,000. Marshall Wace North America L.P. increased its position in Micron Technology by 7,981.1% during the second quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock valued at $53,447,000 after acquiring an additional 1,759,521 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Micron Technology by 68.6% during the second quarter. Parametric Portfolio Associates LLC now owns 3,403,321 shares of the semiconductor manufacturer’s stock valued at $101,623,000 after acquiring an additional 1,384,718 shares during the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total transaction of $133,650.00. Following the sale, the director now directly owns 117,299 shares in the company, valued at $5,225,670.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 29,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $35.00, for a total value of $1,032,500.00. Following the sale, the executive vice president now owns 169,732 shares in the company, valued at $5,940,620. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,088 shares of company stock valued at $11,512,538. 0.53% of the stock is owned by corporate insiders.

Micron Technology, Inc. (NASDAQ MU) opened at $41.86 on Wednesday. The firm has a market capitalization of $49,774.57, a PE ratio of 9.69, a PEG ratio of 0.58 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $19.78 and a one year high of $49.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. research analysts forecast that Micron Technology, Inc. will post 7.42 EPS for the current year.

A number of analysts recently commented on MU shares. Vetr cut Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price objective for the company. in a research report on Friday, November 17th. Deutsche Bank restated a “buy” rating and issued a $50.00 price target on shares of Micron Technology in a research report on Tuesday, November 7th. Morgan Stanley upped their price target on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. J P Morgan Chase & Co upped their price target on Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, UBS restated a “buy” rating and issued a $53.00 price target (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.20.

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Micron Technology Company Profile

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

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