Means Investment CO. Inc. Has $326,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Means Investment CO. Inc. decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 30.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,572 shares of the semiconductor manufacturer’s stock after selling 2,909 shares during the period. Means Investment CO. Inc.’s holdings in Micron Technology were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MU. Price T Rowe Associates Inc. MD increased its stake in shares of Micron Technology by 56.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock valued at $1,136,847,000 after buying an additional 10,672,909 shares during the period. Renaissance Technologies LLC grew its stake in Micron Technology by 154.2% during the second quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock worth $375,709,000 after purchasing an additional 5,905,239 shares during the period. Nuveen Asset Management LLC grew its stake in Micron Technology by 508.8% during the second quarter. Nuveen Asset Management LLC now owns 4,993,986 shares of the semiconductor manufacturer’s stock worth $192,717,000 after purchasing an additional 4,173,660 shares during the period. Viking Global Investors LP grew its stake in Micron Technology by 180.9% during the second quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock worth $248,179,000 after purchasing an additional 4,141,275 shares during the period. Finally, Platinum Investment Management Ltd. grew its stake in Micron Technology by 95.9% during the second quarter. Platinum Investment Management Ltd. now owns 5,021,110 shares of the semiconductor manufacturer’s stock worth $193,765,000 after purchasing an additional 2,458,645 shares during the period. 76.51% of the stock is owned by institutional investors.

In other news, SVP April S. Arnzen sold 2,491 shares of Micron Technology stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $112,095.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP April S. Arnzen sold 2,477 shares of Micron Technology stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $48.47, for a total value of $120,060.19. Following the completion of the transaction, the senior vice president now owns 72,431 shares of the company’s stock, valued at $3,510,730.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,484 shares of company stock valued at $2,439,568. 0.20% of the stock is owned by company insiders.

Micron Technology stock traded up $0.50 during mid-day trading on Tuesday, reaching $46.76. 880,352 shares of the company’s stock were exchanged, compared to its average volume of 16,943,596. The business’s fifty day simple moving average is $46.00 and its 200 day simple moving average is $42.32. The firm has a market capitalization of $52.24 billion, a PE ratio of 7.60 and a beta of 2.00. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $51.39. The company has a quick ratio of 1.78, a current ratio of 2.58 and a debt-to-equity ratio of 0.12.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.13. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the business posted $3.53 earnings per share. The business’s revenue for the quarter was down 42.3% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 2.19 earnings per share for the current year.

Several equities research analysts recently commented on the company. Nomura raised their target price on Micron Technology from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. BMO Capital Markets raised their target price on Micron Technology from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Mizuho reaffirmed a “buy” rating and set a $53.00 target price (up previously from $50.00) on shares of Micron Technology in a research note on Monday. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC raised their target price on Micron Technology to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $53.46.

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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