Micron Technology, Inc. (MU) Shares Bought by DnB Asset Management AS

DnB Asset Management AS grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,618,222 shares of the semiconductor manufacturer’s stock after purchasing an additional 93,230 shares during the period. Micron Technology comprises about 1.3% of DnB Asset Management AS’s investment portfolio, making the stock its 18th biggest holding. DnB Asset Management AS owned 0.23% of Micron Technology worth $107,661,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Capital Research Global Investors grew its holdings in shares of Micron Technology by 386.6% in the second 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 period. Dimensional Fund Advisors LP grew its holdings in Micron Technology by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after purchasing an additional 74,670 shares during the period. Janus Henderson Group PLC grew its holdings in Micron Technology by 2.3% during the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after purchasing an additional 274,086 shares during the period. CI Investments Inc. grew its holdings in Micron Technology by 0.5% during the third quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after purchasing an additional 35,300 shares during the period. Finally, Legal & General Group Plc grew its holdings in Micron Technology by 1.7% during the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after purchasing an additional 94,517 shares during the period. 80.89% of the stock is owned by institutional investors and hedge funds.

Micron Technology, Inc. (NASDAQ MU) opened at $42.08 on Wednesday. The company has a market capitalization of $49,690.00, a P/E ratio of 6.63, a PEG ratio of 0.47 and a beta of 1.75. Micron Technology, Inc. has a 52 week low of $21.49 and a 52 week 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.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. The firm had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company’s quarterly revenue was up 71.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. sell-side analysts forecast that Micron Technology, Inc. will post 9.78 EPS for the current year.

Several analysts have issued reports on the company. Mizuho reissued a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Cowen reissued an “outperform” rating and set a $43.00 price target (up previously from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Longbow Research restated a “buy” rating and issued a $50.00 price objective (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Deutsche Bank restated a “buy” rating and issued a $43.00 price objective (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, BMO Capital Markets assumed coverage on Micron Technology in a research report on Monday, October 2nd. They issued a “market perform” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and a consensus price target of $55.33.

In related news, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the transaction, the executive vice president now owns 122,667 shares of the company’s stock, valued at $5,152,014. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the sale, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. In the last three months, insiders sold 188,720 shares of company stock worth $8,046,240. 0.53% of the stock is owned by insiders.

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Micron Technology Profile

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

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