CI Investments Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 141.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 905,794 shares of the semiconductor manufacturer’s stock after acquiring an additional 531,340 shares during the period. CI Investments Inc. owned 0.08% of Micron Technology worth $68,098,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Sanders Capital LLC lifted its holdings in Micron Technology by 9.2% in the 3rd quarter. Sanders Capital LLC now owns 29,258,834 shares of the semiconductor manufacturer’s stock worth $1,498,842,000 after purchasing an additional 2,455,277 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Micron Technology by 35.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 18,026,673 shares of the semiconductor manufacturer’s stock valued at $846,533,000 after purchasing an additional 4,699,280 shares during the period. Himalaya Capital Management LLC lifted its stake in shares of Micron Technology by 15.8% in the third quarter. Himalaya Capital Management LLC now owns 11,476,523 shares of the semiconductor manufacturer’s stock worth $538,938,000 after buying an additional 1,567,100 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Micron Technology by 7.2% in the third quarter. UBS Asset Management Americas Inc. now owns 9,995,052 shares of the semiconductor manufacturer’s stock worth $469,368,000 after buying an additional 674,441 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Micron Technology by 6.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 6,664,583 shares of the semiconductor manufacturer’s stock worth $312,968,000 after buying an additional 407,484 shares during the period. Institutional investors own 80.43% of the company’s stock.
A number of equities research analysts have issued reports on the stock. TheStreet cut shares of Micron Technology from a “b” rating to a “c+” rating in a report on Thursday, January 7th. Longbow Research boosted their price objective on Micron Technology from $83.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, January 8th. The Goldman Sachs Group raised their target price on Micron Technology from $77.00 to $83.00 and gave the company a “buy” rating in a report on Monday, December 14th. Royal Bank of Canada lifted their price target on Micron Technology from $57.00 to $83.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 5th. Finally, Argus increased their price objective on Micron Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $87.61.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. Micron Technology had a return on equity of 8.46% and a net margin of 13.59%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the business earned $0.48 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 3.64 earnings per share for the current year.
In other news, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Thursday, December 3rd. The stock was sold at an average price of $70.72, for a total transaction of $707,200.00. Following the sale, the executive vice president now owns 138,722 shares in the company, valued at $9,810,419.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 12,446 shares of the firm’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $65.00, for a total value of $808,990.00. Following the completion of the sale, the executive vice president now owns 148,722 shares of the company’s stock, valued at $9,666,930. The disclosure for this sale can be found here. Insiders have sold a total of 122,566 shares of company stock valued at $9,485,357 over the last three months. 0.18% of the stock is currently owned by insiders.
Micron Technology Profile
Micron Technology, Inc designs, manufactures, and sells memory and storage products 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, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.
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