Whale Rock Capital Management LLC Has $46.81 Million Position in Micron Technology (MU)

Whale Rock Capital Management LLC boosted its stake in Micron Technology (NASDAQ:MU) by 83.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,138,291 shares of the semiconductor manufacturer’s stock after purchasing an additional 518,676 shares during the period. Micron Technology makes up approximately 2.2% of Whale Rock Capital Management LLC’s holdings, making the stock its 20th largest position. Whale Rock Capital Management LLC owned about 0.10% of Micron Technology worth $46,807,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MU. SevenBridge Financial Group LLC boosted its stake in shares of Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after acquiring an additional 1,252 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth $204,000. Girard Partners LTD. purchased a new position in shares of Micron Technology during the 4th quarter worth $207,000. Finally, Lourd Capital LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $211,000. 82.49% of the stock is owned by institutional investors and hedge funds.

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A number of research analysts recently weighed in on MU shares. UBS lifted their target price on shares of Micron Technology from $75.00 to $85.00 in a research note on Wednesday, December 20th. Deutsche Bank lifted their target price on shares of Micron Technology from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, March 19th. Goldman Sachs set a $55.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research note on Thursday, January 11th. Needham & Company LLC upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, February 6th. Finally, Evercore ISI lifted their target price on shares of Micron Technology from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, March 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $63.66.

Micron Technology stock opened at $48.46 on Friday. The stock has a market capitalization of $61,919.85, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. Micron Technology has a twelve month low of $26.36 and a twelve month high of $63.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.06 and a current ratio of 2.58.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.55 by $0.27. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.28 billion. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The firm’s revenue was up 58.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. equities analysts forecast that Micron Technology will post 10.85 earnings per share for the current fiscal year.

In other Micron Technology news, EVP Scott J. Deboer sold 14,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $43.28, for a total value of $638,380.00. Following the completion of the sale, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at approximately $5,836,481.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $129,510.00. Following the completion of the sale, the director now directly owns 109,921 shares of the company’s stock, valued at $4,745,289.57. The disclosure for this sale can be found here. Insiders have sold a total of 61,199 shares of company stock worth $3,028,117 over the last quarter. 0.53% of the stock is currently 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.

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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