Pinnacle Associates Ltd. decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,180 shares of the semiconductor manufacturer’s stock after selling 15,565 shares during the period. Pinnacle Associates Ltd.’s holdings in Micron Technology were worth $5,846,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. APG Asset Management N.V. raised its holdings in shares of Micron Technology by 6.3% in the 3rd quarter. APG Asset Management N.V. now owns 925,645 shares of the semiconductor manufacturer’s stock worth $36,406,000 after buying an additional 55,200 shares in the last quarter. CAPROCK Group Inc. acquired a new position in shares of Micron Technology in the 3rd quarter worth approximately $202,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Micron Technology by 453.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 15,500 shares of the semiconductor manufacturer’s stock worth $610,000 after buying an additional 12,700 shares in the last quarter. TrueNorth Inc. raised its holdings in shares of Micron Technology by 6.5% in the 3rd quarter. TrueNorth Inc. now owns 58,979 shares of the semiconductor manufacturer’s stock worth $2,320,000 after buying an additional 3,624 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Micron Technology by 9.1% in the 3rd quarter. Aperio Group LLC now owns 511,131 shares of the semiconductor manufacturer’s stock worth $20,103,000 after buying an additional 42,525 shares in the last quarter. 81.34% of the stock is owned by hedge funds and other institutional investors.
Micron Technology, Inc. (MU) opened at $46.53 on Friday. Micron Technology, Inc. has a 12-month low of $22.64 and a 12-month 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 stock has a market capitalization of $56,580.00, a price-to-earnings ratio of 7.33, a PEG 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business 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 earned $0.32 EPS. The firm’s revenue was up 71.4% on a year-over-year basis. research analysts anticipate that Micron Technology, Inc. will post 10.12 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on MU shares. UBS Group increased their target price on Micron Technology from $75.00 to $85.00 in a report on Wednesday, December 20th. Vetr cut Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a report on Friday, November 17th. Morgan Stanley increased their target price on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. ValuEngine cut Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $50.00 price target on shares of Micron Technology in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.80.
In other news, SVP April S. Arnzen sold 1,222 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $43.77, for a total value of $53,486.94. Following the transaction, the senior vice president now directly owns 57,969 shares in the company, valued at approximately $2,537,303.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 27,878 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares in the company, valued at $2,596,833.93. The disclosure for this sale can be found here. Insiders sold a total of 174,692 shares of company stock worth $7,473,967 over the last 90 days. 0.53% of the stock is owned by corporate insiders.
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Micron Technology 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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