Cadence Capital Management LLC Has $1.30 Million Stake in Micron Technology, Inc. (MU)

Cadence Capital Management LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,703 shares of the semiconductor manufacturer’s stock after selling 3,767 shares during the period. Cadence Capital Management LLC’s holdings in Micron Technology were worth $1,298,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Micron Technology by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock worth $710,326,000 after acquiring an additional 40,694 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Micron Technology by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock worth $268,150,000 after acquiring an additional 238,829 shares during the period. Parnassus Investments CA lifted its holdings in shares of Micron Technology by 40.0% during the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock worth $256,956,000 after acquiring an additional 1,400,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Micron Technology by 7.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,185,658 shares of the semiconductor manufacturer’s stock worth $219,496,000 after acquiring an additional 277,992 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Micron Technology by 3.3% during the 2nd quarter. Swiss National Bank now owns 3,822,903 shares of the semiconductor manufacturer’s stock worth $200,473,000 after acquiring an additional 122,800 shares during the period. 75.53% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on MU. Goldman Sachs Group set a $68.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research report on Wednesday, July 18th. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Wells Fargo & Co dropped their target price on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Deutsche Bank reiterated a “buy” rating and set a $80.00 target price on shares of Micron Technology in a research report on Thursday, September 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.92.

Shares of NASDAQ MU opened at $39.11 on Friday. The stock has a market capitalization of $46.43 billion, a PE ratio of 3.31, a price-to-earnings-growth ratio of 0.63 and a beta of 1.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.16 and a current ratio of 2.79. Micron Technology, Inc. has a 1 year low of $33.82 and a 1 year high of $64.66.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.20. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company’s revenue for the quarter was up 37.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. Analysts expect that Micron Technology, Inc. will post 10.19 EPS for the current year.

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Micron Technology Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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