Kinneret Advisory LLC Buys Shares of 5,168 Micron Technology, Inc. (MU)

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Kinneret Advisory LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,168 shares of the semiconductor manufacturer’s stock, valued at approximately $164,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. James Investment Research Inc. lifted its stake in Micron Technology by 4.9% during the fourth quarter. James Investment Research Inc. now owns 394,680 shares of the semiconductor manufacturer’s stock valued at $12,524,000 after purchasing an additional 18,522 shares during the last quarter. Cedar Capital LLC acquired a new stake in Micron Technology during the third quarter valued at approximately $242,000. Nissay Asset Management Corp Japan ADV lifted its stake in Micron Technology by 7.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 165,535 shares of the semiconductor manufacturer’s stock valued at $5,252,000 after purchasing an additional 11,645 shares during the last quarter. Gabalex Capital Management LLC lifted its stake in Micron Technology by 200.0% during the fourth quarter. Gabalex Capital Management LLC now owns 300,000 shares of the semiconductor manufacturer’s stock valued at $9,519,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Connable Office Inc. lifted its stake in Micron Technology by 54.3% during the fourth quarter. Connable Office Inc. now owns 60,563 shares of the semiconductor manufacturer’s stock valued at $1,922,000 after purchasing an additional 21,316 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Several brokerages recently commented on MU. Zacks Investment Research upgraded shares of Micron Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, February 18th. ValuEngine downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Cross Research downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Finally, KeyCorp reduced their price target on shares of Micron Technology from $61.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $59.52.

Micron Technology stock opened at $38.60 on Friday. The company has a market capitalization of $44.00 billion, a price-to-earnings ratio of 3.25, a P/E/G ratio of 0.83 and a beta of 1.87. The company has a current ratio of 2.90, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11. Micron Technology, Inc. has a twelve month low of $28.39 and a twelve month high of $64.66.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.07. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.01 billion. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. During the same quarter in the prior year, the business earned $2.45 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 7.47 earnings per share for the current year.

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Micron Technology 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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