TIAA CREF Investment Management LLC reduced its position in shares of Micron Technology (NASDAQ:MU) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,202,317 shares of the semiconductor manufacturer’s stock after selling 499,362 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.36% of Micron Technology worth $172,799,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Arrowstreet Capital Limited Partnership grew its position in shares of Micron Technology by 26,035.4% during the 4th 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 in the last quarter. Greenlight Capital Inc. grew its position in Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after acquiring an additional 2,371,900 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Micron Technology in the fourth quarter worth $61,747,000. Amundi Pioneer Asset Management Inc. grew its position in Micron Technology by 53.3% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 3,969,870 shares of the semiconductor manufacturer’s stock worth $156,135,000 after acquiring an additional 1,379,561 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in Micron Technology by 174.8% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,126,215 shares of the semiconductor manufacturer’s stock worth $87,430,000 after acquiring an additional 1,352,435 shares in the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Several research analysts recently issued reports 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 reiterated a “buy” rating and issued a $76.00 target price on shares of Micron Technology in a research report on Wednesday, December 20th. Nomura upped 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 upped 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 equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given 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 an average target price of $63.66.
Shares of NASDAQ:MU traded down $1.38 during midday trading on Friday, hitting $48.46. 79,260,942 shares of the stock traded hands, compared to its average volume of 72,018,624. Micron Technology has a one year low of $26.36 and a one year high of $63.42. The company has a market cap of $57,802.69, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.46 and a beta of 1.33. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 0.29.
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 Zacks’ consensus estimate of $2.55 by $0.27. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. Micron Technology’s revenue was up 58.2% on a year-over-year basis. research analysts forecast that Micron Technology will post 10.85 EPS for the current fiscal year.
In other Micron Technology news, EVP Scott J. Deboer sold 13,695 shares of the company’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $56.11, for a total value of $768,426.45. Following the sale, the executive vice president now owns 133,799 shares in the company, valued at $7,507,461.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mercedes Johnson sold 25,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was 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. Over the last three months, insiders sold 61,199 shares of company stock valued at $3,028,117. 0.53% of the stock is owned by insiders.
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Micron Technology Company Profile
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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