Two Sigma Advisers LP reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,342,485 shares of the semiconductor manufacturer’s stock after selling 423,063 shares during the period. Micron Technology comprises 0.7% of Two Sigma Advisers LP’s portfolio, making the stock its 10th largest position. Two Sigma Advisers LP’s holdings in Micron Technology were worth $260,803,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MU. Boston Partners acquired a new position in shares of Micron Technology during the third quarter worth $812,000. Principal Financial Group Inc. lifted its position in shares of Micron Technology by 31.1% during the third quarter. Principal Financial Group Inc. now owns 2,082,747 shares of the semiconductor manufacturer’s stock worth $81,915,000 after purchasing an additional 493,767 shares in the last quarter. Breton Hill Capital Ltd. acquired a new position in shares of Micron Technology during the third quarter worth $382,000. Jennison Associates LLC acquired a new stake in Micron Technology in the third quarter valued at $2,585,000. Finally, Alps Advisors Inc. raised its holdings in Micron Technology by 54.9% in the third quarter. Alps Advisors Inc. now owns 47,295 shares of the semiconductor manufacturer’s stock valued at $1,860,000 after acquiring an additional 16,768 shares in the last quarter. 82.51% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on MU. Instinet upped their price target on shares of Micron Technology from $55.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $56.88 price target on the stock in a report on Monday. KeyCorp upped their price target on shares of Micron Technology from $53.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. Zacks Investment Research raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday. Finally, BidaskClub raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned 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 $58.33.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company’s quarterly revenue was up 71.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. research analysts expect that Micron Technology, Inc. will post 10.29 earnings per share for the current year.
In related news, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares in the company, valued at approximately $2,596,833.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. The disclosure for this sale can be found here. Insiders have sold 174,692 shares of company stock valued at $7,493,827 in the last 90 days. Insiders own 0.53% of the company’s stock.
Micron Technology Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.