Synovus Financial Corp grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,074 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,184 shares during the period. Synovus Financial Corp’s holdings in Micron Technology were worth $3,295,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Swiss National Bank raised its stake in shares of Micron Technology by 1.3% during the third quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock valued at $152,384,000 after acquiring an additional 49,200 shares in the last quarter. LMR Partners LLP raised its stake in shares of Micron Technology by 6.9% during the third quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock valued at $1,088,000 after acquiring an additional 1,776 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of Micron Technology by 14.1% during the third quarter. AMP Capital Investors Ltd now owns 801,496 shares of the semiconductor manufacturer’s stock valued at $31,521,000 after acquiring an additional 99,231 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Micron Technology by 26.7% during the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 9,810 shares of the semiconductor manufacturer’s stock valued at $403,000 after acquiring an additional 2,070 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Micron Technology by 5.1% in the third quarter. Sei Investments Co. now owns 1,561,222 shares of the semiconductor manufacturer’s stock worth $61,403,000 after buying an additional 76,222 shares in the last quarter. 81.34% of the stock is owned by hedge funds and other institutional investors.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $41.38, for a total value of $124,140.00. Following the completion of the transaction, the director now owns 116,699 shares in the company, valued at $4,829,004.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,692 shares of company stock valued at $7,473,967. Insiders own 0.53% of the company’s stock.
Shares of Micron Technology, Inc. (MU) opened at $44.76 on Tuesday. Micron Technology, Inc. has a 1-year low of $22.64 and a 1-year high of $49.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The company has a market cap of $51,710.00, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results 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 net margin of 32.77% and a return on equity of 41.87%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 71.4% on a year-over-year basis. equities research analysts anticipate that Micron Technology, Inc. will post 10.12 EPS for the current year.
A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Morgan Stanley boosted their price objective on shares of Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird reissued an “outperform” rating and issued a $60.00 price objective (up previously from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective for the company in a research note on Tuesday, November 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $55.80.
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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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