Micron Technology, Inc. (NASDAQ:MU) Position Boosted by FIL Ltd

FIL Ltd boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 767,532.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 890,454 shares of the semiconductor manufacturer’s stock after purchasing an additional 890,338 shares during the quarter. FIL Ltd’s holdings in Micron Technology were worth $36,802,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Executive Wealth Management LLC acquired a new position in Micron Technology in the fourth quarter valued at $26,000. JNBA Financial Advisors acquired a new position in Micron Technology in the fourth quarter valued at $28,000. Athena Capital Advisors LLC acquired a new position in Micron Technology in the fourth quarter valued at $29,000. Valeo Financial Advisors LLC boosted its stake in Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its stake in shares of Micron Technology by 49.9% during the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 235 shares during the period. 77.05% of the stock is currently owned by hedge funds and other institutional investors.

MU opened at $33.99 on Monday. The stock has a market capitalization of $37.62 billion, a PE ratio of 2.88 and a beta of 1.94. Micron Technology, Inc. has a 1-year low of $28.39 and a 1-year high of $62.55. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.10.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.82 billion. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The company’s revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.12 EPS for the current year.

In related news, EVP Scott J. Deboer sold 14,486 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $42.88, for a total transaction of $621,159.68. Following the completion of the sale, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joel L. Poppen sold 20,210 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $41.45, for a total transaction of $837,704.50. Following the sale, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at approximately $11,165,303.60. The disclosure for this sale can be found here. Insiders sold a total of 55,878 shares of company stock valued at $2,293,223 in the last three months. Insiders own 0.20% of the company’s stock.

Several brokerages have recently weighed in on MU. UBS Group increased their target price on shares of Micron Technology to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $75.00 price objective on shares of Micron Technology in a research report on Tuesday, March 19th. BidaskClub downgraded shares of Micron Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 23rd. Barclays reduced their price objective on shares of Micron Technology from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Cowen raised their price objective on shares of Micron Technology to $46.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $51.33.

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Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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