DNB Asset Management AS raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,282 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,598 shares during the period. DNB Asset Management AS’s holdings in Micron Technology were worth $7,114,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Doyle Wealth Management bought a new stake in shares of Micron Technology in the 2nd quarter worth approximately $30,000. Whittier Trust Co. grew its stake in Micron Technology by 115.2% during the 3rd quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 425 shares during the last quarter. Griffin Asset Management Inc. bought a new position in Micron Technology during the 2nd quarter worth $39,000. North Star Investment Management Corp. bought a new position in Micron Technology during the 3rd quarter worth $44,000. Finally, HM Payson & Co. acquired a new stake in Micron Technology in the second quarter worth $51,000. 77.28% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on MU. Cascend Securities reiterated a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Micron Technology in a research note on Tuesday, September 17th. BidaskClub upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. Longbow Research restated a “buy” rating on shares of Micron Technology in a research report on Monday, December 16th. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Micron Technology in a report on Thursday, December 19th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $65.00 price objective (up from $55.00) on shares of Micron Technology in a research report on Thursday, December 19th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and an average target price of $61.24.
Shares of NASDAQ:MU opened at $57.52 on Wednesday. The company has a 50 day moving average of $52.31 and a 200-day moving average of $47.02. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The firm has a market cap of $63.74 billion, a P/E ratio of 9.35 and a beta of 1.98. Micron Technology, Inc. has a twelve month low of $32.14 and a twelve month high of $58.48.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned $2.97 earnings per share. The business’s revenue for the quarter was down 35.0% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 2.09 EPS for the current year.
In other Micron Technology news, SVP April S. Arnzen sold 4,252 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.22, for a total value of $200,779.44. Following the sale, the senior vice president now directly owns 101,439 shares in the company, valued at $4,789,949.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joel L. Poppen sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $56.97, for a total transaction of $1,139,400.00. Following the completion of the sale, the senior vice president now owns 301,395 shares in the company, valued at $17,170,473.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,786 shares of company stock valued at $2,649,197. 0.18% of the stock is currently owned by corporate insiders.
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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