US Bancorp DE grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 374.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,438 shares of the semiconductor manufacturer’s stock after purchasing an additional 180,329 shares during the period. US Bancorp DE’s holdings in Micron Technology were worth $10,332,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Tradewinds Capital Management LLC grew its position in shares of Micron Technology by 411.8% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 1,606 shares in the last quarter. Credit Agricole S A grew its position in Micron Technology by 199,900.0% in the second quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 1,999 shares in the last quarter. First Manhattan Co. grew its position in Micron Technology by 211.1% in the third quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock worth $126,000 after acquiring an additional 1,900 shares in the last quarter. America First Investment Advisors LLC purchased a new position in Micron Technology in the second quarter worth $131,000. Finally, Alethea Capital Management LLC purchased a new position in Micron Technology in the second quarter worth $134,000. Hedge funds and other institutional investors own 75.53% of the company’s stock.
MU has been the subject of several research reports. Raymond James initiated coverage on shares of Micron Technology in a research report on Monday, October 22nd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $84.00 target price on shares of Micron Technology in a research report on Wednesday, September 19th. Wells Fargo & Co cut their target price on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, August 15th. They noted that the move was a valuation call. BidaskClub lowered shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Finally, Zacks Investment Research lowered shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $66.92.
Micron Technology stock opened at $40.44 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $45.14 billion, a price-to-earnings ratio of 3.42, a price-to-earnings-growth ratio of 0.62 and a beta of 1.69. Micron Technology, Inc. has a twelve month low of $33.82 and a twelve month high of $64.66.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The firm’s revenue for the quarter was up 37.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 10.19 EPS for the current fiscal year.
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Micron Technology 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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