State of Wisconsin Investment Board raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,404,904 shares of the semiconductor manufacturer’s stock after buying an additional 66,461 shares during the quarter. State of Wisconsin Investment Board owned about 0.12% of Micron Technology worth $57,770,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. SevenBridge Financial Group LLC boosted its holdings in shares of Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after purchasing an additional 2,600 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Micron Technology during the third quarter worth $184,000. Finally, Balasa Dinverno & Foltz LLC acquired a new stake in shares of Micron Technology during the third quarter worth $201,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.
In other news, SVP April S. Arnzen sold 27,878 shares of Micron Technology stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the sale, the senior vice president now directly owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $41.38, for a total value of $124,140.00. Following the sale, the director now directly owns 116,699 shares in the company, valued at $4,829,004.62. The disclosure for this sale can be found here. Insiders sold 173,470 shares of company stock worth $7,420,480 over the last three months. 0.53% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on MU shares. Wells Fargo & Co restated a “buy” rating and set a $54.00 price objective (up previously from $45.00) on shares of Micron Technology in a report on Wednesday, December 20th. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 target price on the stock in a research report on Wednesday, October 25th. Finally, Cowen set a $50.00 target price on Micron Technology and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and an average price target of $55.80.
Micron Technology, Inc. (MU) opened at $43.50 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. Micron Technology, Inc. has a 52-week low of $22.64 and a 52-week high of $49.89. The company has a market capitalization of $50,300.00, a PE ratio of 6.85, a price-to-earnings-growth ratio of 0.43 and a beta of 1.62.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating the consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period last year, the company posted $0.32 earnings per share. The firm’s revenue was up 71.4% compared to the same quarter last year. equities research analysts anticipate that Micron Technology, Inc. will post 10.12 EPS for the current fiscal year.
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About Micron Technology
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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