QS Investors LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,777 shares of the semiconductor manufacturer’s stock after selling 15,060 shares during the period. QS Investors LLC’s holdings in Micron Technology were worth $3,609,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Micron Technology by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 12,907,706 shares of the semiconductor manufacturer’s stock worth $529,730,000 after buying an additional 835,541 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Micron Technology by 2.3% during the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock worth $476,863,000 after buying an additional 274,086 shares during the last quarter. Legal & General Group Plc boosted its stake in Micron Technology by 1.7% during the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock worth $221,856,000 after buying an additional 94,517 shares during the last quarter. Greenlight Capital Inc. boosted its stake in Micron Technology by 89.5% during the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after buying an additional 2,371,900 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Micron Technology by 26,035.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,756,637 shares of the semiconductor manufacturer’s stock valued at $195,593,000 after purchasing an additional 4,738,437 shares during the period. 82.47% of the stock is currently owned by institutional investors.
MU has been the topic of a number of research analyst reports. Cowen set a $53.00 target price on Micron Technology and gave the company a “buy” rating in a research report on Wednesday, February 21st. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Robert W. Baird restated an “outperform” rating and issued a $60.00 target price (up previously from $52.00) on shares of Micron Technology in a research report on Tuesday, November 28th. JPMorgan Chase & Co. lifted their target price on Micron Technology to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $63.02.
Shares of MU stock opened at $54.21 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. Micron Technology, Inc. has a 1-year low of $26.36 and a 1-year high of $63.42. The firm has a market capitalization of $68,130.08, a PE ratio of 6.57, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.27. Micron Technology had a return on equity of 52.27% and a net margin of 38.68%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the business earned $0.90 EPS. Micron Technology’s revenue was up 58.2% on a year-over-year basis. equities analysts expect that Micron Technology, Inc. will post 10.41 earnings per share for the current year.
In other news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total transaction of $128,190.00. Following the completion of the transaction, the director now directly owns 113,585 shares of the company’s stock, valued at approximately $4,853,487.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP April S. Arnzen sold 1,222 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,537,303.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,346 shares of company stock worth $6,291,481. 0.53% of the stock is owned by company insiders.
COPYRIGHT VIOLATION WARNING: This news story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/03/24/micron-technology-inc-mu-position-lowered-by-qs-investors-llc.html.
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.
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.