Icon Advisers Inc. Co. Reduces Holdings in Micron Technology, Inc. (MU)

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Icon Advisers Inc. Co. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 70.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,200 shares of the semiconductor manufacturer’s stock after selling 53,600 shares during the period. Icon Advisers Inc. Co.’s holdings in Micron Technology were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MU. Vanguard Group Inc increased its holdings in shares of Micron Technology by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 87,876,412 shares of the semiconductor manufacturer’s stock valued at $3,974,651,000 after purchasing an additional 1,176,989 shares during the period. AQR Capital Management LLC increased its holdings in shares of Micron Technology by 75.5% in the 3rd quarter. AQR Capital Management LLC now owns 28,530,556 shares of the semiconductor manufacturer’s stock valued at $1,290,438,000 after purchasing an additional 12,269,445 shares during the period. Capital World Investors acquired a new position in shares of Micron Technology in the 3rd quarter valued at about $1,136,492,000. Janus Henderson Group PLC increased its holdings in shares of Micron Technology by 15.8% in the 3rd quarter. Janus Henderson Group PLC now owns 9,500,254 shares of the semiconductor manufacturer’s stock valued at $429,725,000 after purchasing an additional 1,294,408 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Micron Technology by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 5,020,400 shares of the semiconductor manufacturer’s stock valued at $227,062,000 after purchasing an additional 77,343 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

A number of equities analysts have recently weighed in on the company. ValuEngine upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Sanford C. Bernstein raised Micron Technology from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 9th. Needham & Company LLC reissued a “hold” rating on shares of Micron Technology in a research note on Tuesday, January 8th. Finally, BMO Capital Markets raised Micron Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $32.00 to $50.00 in a research note on Monday, January 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $59.52.

Shares of Micron Technology stock opened at $38.58 on Friday. The company has a market cap of $44.15 billion, a price-to-earnings ratio of 3.26, a P/E/G ratio of 0.81 and a beta of 1.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.15. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $64.66.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Micron Technology had a return on equity of 48.58% and a net margin of 46.82%. During the same quarter in the prior year, the business earned $2.45 earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 7.7 EPS for the current fiscal year.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions 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 Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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