Micron Technology (NASDAQ:MU) Stake Lessened by QS Investors LLC

QS Investors LLC trimmed its holdings in Micron Technology (NASDAQ:MU) by 14.6% during the 4th quarter, according to the company in 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 quarter. QS Investors LLC’s holdings in Micron Technology were worth $3,609,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake 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 worth $195,593,000 after acquiring an additional 4,738,437 shares in the last quarter. Greenlight Capital Inc. boosted its stake in shares of Micron Technology by 89.5% during the 3rd 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 stake in shares of Micron Technology during the 4th quarter worth about $61,747,000. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Micron Technology by 53.3% during the 3rd 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. boosted its stake in shares of Micron Technology by 174.8% during the 4th 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. 82.49% of the stock is currently owned by institutional investors.

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Shares of NASDAQ MU traded down $1.38 during midday trading on Friday, reaching $48.46. 79,392,188 shares of the stock were exchanged, compared to its average volume of 72,018,624. The company has a market capitalization of $56,202.21, a P/E ratio of 10.99, a P/E/G ratio of 0.45 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 twelve month low of $26.36 and a twelve month high of $63.42.

Micron Technology (NASDAQ:MU) last announced 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. The business had revenue of $7.35 billion during 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 business’s revenue was up 58.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. research analysts expect that Micron Technology will post 10.85 EPS for the current year.

MU has been the topic of a number of research reports. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, December 14th. MKM Partners raised their price target on shares of Micron Technology from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Citigroup reaffirmed a “buy” rating and issued a $55.00 price target (down from $60.00) on shares of Micron Technology in a research note on Wednesday, December 20th. JPMorgan Chase raised their price target on shares of Micron Technology to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. Finally, Loop Capital raised their price target on shares of Micron Technology to $56.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.66.

In related news, SVP April S. Arnzen sold 1,222 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the completion of the transaction, the senior vice president now owns 57,969 shares of the company’s stock, valued at approximately $2,537,303.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 14,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $43.28, for a total transaction of $638,380.00. Following the transaction, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at approximately $5,836,481.12. The disclosure for this sale can be found here. Insiders have sold a total of 61,199 shares of company stock valued at $3,028,117 in the last 90 days. Insiders own 0.53% of the company’s stock.

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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.

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

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