Micron Technology, Inc. (MU) Position Increased by AMP Capital Investors Ltd

AMP Capital Investors Ltd increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 801,496 shares of the semiconductor manufacturer’s stock after acquiring an additional 99,231 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.07% of Micron Technology worth $31,521,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. B. Riley Financial Inc. raised its stake in shares of Micron Technology by 36.9% in the third quarter. B. Riley Financial Inc. now owns 80,748 shares of the semiconductor manufacturer’s stock valued at $3,176,000 after buying an additional 21,786 shares during the period. Engineers Gate Manager LP raised its stake in shares of Micron Technology by 10.6% in the third quarter. Engineers Gate Manager LP now owns 139,144 shares of the semiconductor manufacturer’s stock valued at $5,473,000 after buying an additional 13,382 shares during the period. Dymon Asia Capital Ltd. bought a new stake in shares of Micron Technology in the third quarter valued at $2,301,000. Envestnet Asset Management Inc. raised its stake in shares of Micron Technology by 636.1% in the third quarter. Envestnet Asset Management Inc. now owns 170,340 shares of the semiconductor manufacturer’s stock valued at $6,700,000 after buying an additional 147,198 shares during the period. Finally, JW Asset Management LLC raised its stake in shares of Micron Technology by 13.9% in the third quarter. JW Asset Management LLC now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $1,613,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 81.16% of the company’s stock.

Several analysts have issued reports on MU shares. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price on the stock. in a research note on Friday, November 17th. Deutsche Bank restated a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a research note on Tuesday, November 7th. UBS reiterated a “buy” rating and set a $53.00 price objective (up from $39.50) on shares of Micron Technology in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co boosted their price objective on Micron Technology from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Finally, Morgan Stanley boosted their price objective on Micron Technology from $39.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.20.

In other news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now directly owns 117,299 shares in the company, valued at approximately $5,225,670.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the transaction, the executive vice president now owns 140,232 shares of the company’s stock, valued at $4,767,888. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,088 shares of company stock valued at $11,852,538. 0.69% of the stock is owned by company insiders.

Micron Technology, Inc. (NASDAQ MU) opened at $41.58 on Thursday. Micron Technology, Inc. has a 52-week low of $19.30 and a 52-week high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. The company has a market capitalization of $47,525.64, a PE ratio of 9.28, a P/E/G ratio of 0.56 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue was up 90.8% on a year-over-year basis. equities research analysts predict that Micron Technology, Inc. will post 7.42 EPS for the current year.

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About Micron Technology

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

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