Flinton Capital Management LLC trimmed its position in Micron Technology (NASDAQ:MU) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,080 shares of the semiconductor manufacturer’s stock after selling 25,104 shares during the period. Flinton Capital Management LLC’s holdings in Micron Technology were worth $4,527,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Clearline Capital LP purchased a new position in Micron Technology in the 4th quarter valued at $2,043,000. Ladenburg Thalmann Financial Services Inc. grew its position in Micron Technology by 4.4% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,256 shares of the semiconductor manufacturer’s stock valued at $3,635,000 after buying an additional 3,696 shares during the last quarter. OLD Mission Capital LLC purchased a new position in Micron Technology in the 4th quarter valued at $549,000. G&S Capital LLC purchased a new position in Micron Technology in the 4th quarter valued at $366,000. Finally, Paloma Partners Management Co boosted its position in shares of Micron Technology by 6.0% during the 4th quarter. Paloma Partners Management Co now owns 55,581 shares of the semiconductor manufacturer’s stock worth $2,285,000 after purchasing an additional 3,162 shares in the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.
In related news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $43.17, for a total value of $129,510.00. Following the completion of the transaction, the director now owns 109,921 shares of the company’s stock, valued at approximately $4,745,289.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mercedes Johnson sold 25,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $50.50, for a total transaction of $1,262,500.00. The disclosure for this sale can be found here. Insiders sold a total of 61,199 shares of company stock valued at $3,028,117 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
NASDAQ:MU opened at $48.46 on Friday. The firm has a market cap of $61,919.85, a PE ratio of 10.99, a PEG ratio of 0.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.58 and a quick ratio of 2.06. Micron Technology has a 52-week low of $26.36 and a 52-week high of $63.42.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.27. Micron Technology had a return on equity of 48.27% and a net margin of 38.68%. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 58.2% on a year-over-year basis. analysts expect that Micron Technology will post 10.85 EPS for the current fiscal year.
Several equities research analysts have commented on the stock. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Citigroup lowered shares of Micron Technology from a “buy” rating to a “neutral” rating in a research report on Friday, March 23rd. Needham & Company LLC restated a “buy” rating and set a $76.00 target price on shares of Micron Technology in a research report on Wednesday, December 20th. Nomura boosted their target price on shares of Micron Technology and gave the stock a “buy” rating in a research report on Monday, March 12th. Finally, MKM Partners boosted their target price on shares of Micron Technology from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $63.66.
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About Micron Technology
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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