Pendal Group Ltd increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 2,272,030 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,396 shares during the quarter. Micron Technology accounts for 1.4% of Pendal Group Ltd’s portfolio, making the stock its 19th largest position. Pendal Group Ltd’s holdings in Micron Technology were worth $102,764,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of MU. Dimensional Fund Advisors LP lifted its holdings in Micron Technology by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock valued at $710,326,000 after purchasing an additional 40,694 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Micron Technology by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock valued at $268,150,000 after purchasing an additional 238,829 shares in the last quarter. Parnassus Investments CA lifted its holdings in Micron Technology by 40.0% during the second quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock valued at $256,956,000 after purchasing an additional 1,400,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Micron Technology by 7.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,185,658 shares of the semiconductor manufacturer’s stock valued at $219,496,000 after purchasing an additional 277,992 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Micron Technology by 3.3% during the second quarter. Swiss National Bank now owns 3,822,903 shares of the semiconductor manufacturer’s stock valued at $200,473,000 after purchasing an additional 122,800 shares in the last quarter. 75.53% of the stock is currently owned by institutional investors.
Shares of MU opened at $39.92 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $33.82 and a fifty-two week high of $64.66. The firm has a market capitalization of $45.73 billion, a P/E ratio of 3.38, a price-to-earnings-growth ratio of 0.62 and a beta of 1.69. The company has a current ratio of 2.79, a quick ratio of 2.16 and a debt-to-equity ratio of 0.11.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. Micron Technology’s quarterly revenue was up 37.5% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 10.19 EPS for the current year.
Several equities analysts have weighed in on the stock. Goldman Sachs Group set a $68.00 price target on shares of Micron Technology and gave the company a “buy” rating in a report on Wednesday, July 18th. Needham & Company LLC lowered their price target on shares of Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating on the stock in a report on Monday, September 24th. Barclays lowered their price target on shares of Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Wells Fargo & Co reduced their price objective on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Finally, Cowen reduced their price objective on shares of Micron Technology from $72.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.92.
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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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