Micron Technology, Inc. (MU) Holdings Trimmed by BARING ASSET MANAGEMENT Ltd
BARING ASSET MANAGEMENT Ltd trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,911 shares of the semiconductor manufacturer’s stock after selling 2,687 shares during the quarter. BARING ASSET MANAGEMENT Ltd’s holdings in Micron Technology were worth $2,002,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $107,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $141,000. Krilogy Financial LLC raised its stake in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after acquiring an additional 4,350 shares during the period. MPS Loria Financial Planners LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $142,000. Finally, FNY Managed Accounts LLC raised its stake in shares of Micron Technology by 478.0% in the 2nd quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock valued at $149,000 after acquiring an additional 4,135 shares during the period. Institutional investors own 77.14% of the company’s stock.
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Micron Technology, Inc. (MU) traded up 6.19% during midday trading on Tuesday, hitting $44.23. 21,376,068 shares of the company’s stock traded hands. The company has a market capitalization of $49.05 billion, a PE ratio of 10.03 and a beta of 1.82. The company has a 50 day moving average of $38.68 and a 200-day moving average of $32.20. Micron Technology, Inc. has a 52 week low of $16.45 and a 52 week high of $44.25.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business’s revenue for the quarter was up 90.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. Equities research analysts predict that Micron Technology, Inc. will post $7.63 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. Vetr downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $42.77 price target on the stock. in a research note on Tuesday. KeyCorp reissued a “hold” rating on shares of Micron Technology in a research note on Friday. Macquarie reissued an “outperform” rating and issued a $50.00 price target (up from $42.00) on shares of Micron Technology in a research note on Monday, October 23rd. Citigroup Inc. reissued a “buy” rating on shares of Micron Technology in a research note on Monday, October 23rd. Finally, UBS AG reissued a “buy” rating and issued a $53.00 price target (up from $39.50) on shares of Micron Technology in a research note on Thursday, October 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $46.35.
In other Micron Technology news, CFO Ernest E. Maddock bought 3,400 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average price of $27.89 per share, with a total value of $94,826.00. Following the purchase, the chief financial officer now directly owns 192,385 shares in the company, valued at approximately $5,365,617.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the transaction, the senior vice president now directly owns 289,940 shares in the company, valued at approximately $11,046,714. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 330,415 shares of company stock worth $12,468,675. Corporate insiders own 0.69% of the company’s stock.
Micron Technology Company Profile
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