C M Bidwell & Associates Ltd. lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,935 shares of the semiconductor manufacturer’s stock after selling 2,160 shares during the period. Micron Technology accounts for approximately 1.1% of C M Bidwell & Associates Ltd.’s investment portfolio, making the stock its 13th largest holding. C M Bidwell & Associates Ltd.’s holdings in Micron Technology were worth $1,196,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of MU. Geode Capital Management LLC boosted its holdings in Micron Technology by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 12,907,706 shares of the semiconductor manufacturer’s stock worth $529,730,000 after acquiring an additional 835,541 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in Micron Technology in the fourth quarter worth about $36,676,000. Guggenheim Capital LLC boosted its holdings in Micron Technology by 21.2% in the fourth quarter. Guggenheim Capital LLC now owns 2,279,294 shares of the semiconductor manufacturer’s stock worth $93,725,000 after acquiring an additional 398,851 shares in the last quarter. Rhumbline Advisers boosted its holdings in Micron Technology by 0.5% in the first quarter. Rhumbline Advisers now owns 1,947,554 shares of the semiconductor manufacturer’s stock worth $101,545,000 after acquiring an additional 10,158 shares in the last quarter. Finally, Signition LP acquired a new stake in Micron Technology in the fourth quarter worth about $214,000. Institutional investors own 78.52% of the company’s stock.
Several brokerages have weighed in on MU. Morgan Stanley downgraded Micron Technology from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a report on Thursday. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Thursday. Goldman Sachs Group set a $55.00 price target on Micron Technology and gave the stock a “buy” rating in a report on Wednesday, February 7th. Stifel Nicolaus reissued a “buy” rating on shares of Micron Technology in a report on Friday, March 23rd. Finally, Credit Suisse Group raised their price target on Micron Technology from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and an average price target of $66.86.
Shares of Micron Technology opened at $57.59 on Friday, Marketbeat Ratings reports. Micron Technology, Inc. has a 12-month low of $26.85 and a 12-month high of $64.66. The company has a market capitalization of $72.62 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.55 and a beta of 1.36. 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 (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, beating the Zacks’ consensus estimate of $2.55 by $0.27. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.28 billion. Micron Technology had a return on equity of 48.27% and a net margin of 38.68%. Micron Technology’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. sell-side analysts anticipate that Micron Technology, Inc. will post 11.36 EPS for the current year.
Micron Technology announced that its board has approved a share buyback plan on Monday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 16.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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