Candriam Luxembourg S.C.A. Cuts Holdings in Micron Technology, Inc. (MU)

Candriam Luxembourg S.C.A. cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 394,774 shares of the semiconductor manufacturer’s stock after selling 42,440 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Micron Technology were worth $16,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SevenBridge Financial Group LLC raised its position in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares during the period. Salem Investment Counselors Inc. raised its position in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares during the period. First Republic Investment Management Inc. raised its position in shares of Micron Technology by 12.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock valued at $470,000 after acquiring an additional 1,329 shares during the period. Buffington Mohr McNeal raised its position in shares of Micron Technology by 2.2% in the 3rd quarter. Buffington Mohr McNeal now owns 63,648 shares of the semiconductor manufacturer’s stock valued at $2,600,000 after acquiring an additional 1,400 shares during the period. Finally, D.A. Davidson & CO. raised its position in shares of Micron Technology by 5.0% in the 3rd quarter. D.A. Davidson & CO. now owns 30,175 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after acquiring an additional 1,425 shares during the period. Institutional investors own 80.66% of the company’s stock.

A number of analysts recently weighed in on the stock. Goldman Sachs Group set a $55.00 price target on shares of Micron Technology and gave the company a “buy” rating in a research report on Wednesday, February 7th. Mizuho reissued a “buy” rating and set a $55.00 target price (up from $50.00) on shares of Micron Technology in a research note on Tuesday, February 6th. Morgan Stanley lowered their target price on Micron Technology from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Needham & Company LLC raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $76.00 target price for the company in a research note on Tuesday, February 6th. Finally, UBS Group cut Micron Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned 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 price target of $55.80.

Micron Technology, Inc. (MU) opened at $42.19 on Tuesday. The firm has a market cap of $48,780.00, a P/E ratio of 6.64, a PEG ratio of 0.40 and a beta of 1.62. Micron Technology, Inc. has a 52 week low of $22.64 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 issued its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the 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 net margin of 32.77% and a return on equity of 41.87%. The business’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. equities research analysts predict that Micron Technology, Inc. will post 10.12 earnings per share for the current fiscal year.

In other news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $41.38, for a total value of $124,140.00. Following the completion of the sale, the director now owns 116,699 shares of the company’s stock, valued at approximately $4,829,004.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 14,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $43.28, for a total value of $638,380.00. Following the completion of the sale, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at approximately $5,836,481.12. The disclosure for this sale can be found here. Insiders have sold a total of 173,470 shares of company stock valued at $7,420,480 over the last ninety days. Company insiders own 0.53% of the company’s stock.

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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.

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

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