National Pension Service boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,027,405 shares of the semiconductor manufacturer’s stock after buying an additional 4,440 shares during the period. National Pension Service owned approximately 0.09% of Micron Technology worth $42,247,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in 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 valued at $1,188,259,000 after acquiring an additional 31,616,346 shares during the period. Janus Henderson Group PLC lifted its holdings in Micron Technology by 292.8% in 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 period. Greenlight Capital Inc. lifted its holdings in Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after acquiring an additional 2,371,900 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Micron Technology by 68.6% in 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 period. Finally, Amundi Pioneer Asset Management Inc. raised its stake in shares of Micron Technology by 53.3% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 3,969,870 shares of the semiconductor manufacturer’s stock worth $156,135,000 after buying an additional 1,379,561 shares during the period. Hedge funds and other institutional investors own 80.92% of the company’s stock.
Several brokerages have recently weighed in on MU. Vetr downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a research note on Friday, November 17th. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Deutsche Bank reaffirmed a “buy” rating and set a $42.00 target price (up from $37.00) on shares of Micron Technology in a research note on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a research note on Wednesday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.33.
Shares of Micron Technology, Inc. (NASDAQ:MU) opened at $44.26 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $51,180.00, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75. Micron Technology, Inc. has a twelve month low of $21.49 and a twelve month high of $49.89.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion during 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 firm’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. equities research analysts anticipate that Micron Technology, Inc. will post 9.78 earnings per share for the current year.
In other news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 117,299 shares in the company, valued at approximately $5,225,670.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,720 shares of company stock valued at $8,046,240. 0.53% of the stock is owned by company insiders.
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Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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