Shaker Investments LLC OH Buys 6,975 Shares of Micron Technology, Inc. (NASDAQ:MU)

Shaker Investments LLC OH grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,512 shares of the semiconductor manufacturer’s stock after buying an additional 6,975 shares during the period. Shaker Investments LLC OH’s holdings in Micron Technology were worth $1,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. BlackRock Inc. increased its position in shares of Micron Technology by 1.0% in the second quarter. BlackRock Inc. now owns 73,370,753 shares of the semiconductor manufacturer’s stock worth $2,831,377,000 after purchasing an additional 717,819 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Micron Technology by 56.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock worth $1,136,847,000 after purchasing an additional 10,672,909 shares during the last quarter. Northern Trust Corp increased its position in shares of Micron Technology by 8.0% in the second quarter. Northern Trust Corp now owns 13,355,786 shares of the semiconductor manufacturer’s stock worth $515,401,000 after purchasing an additional 986,786 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Micron Technology by 154.2% in the second quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock worth $375,709,000 after purchasing an additional 5,905,239 shares during the last quarter. Finally, Viking Global Investors LP increased its position in shares of Micron Technology by 180.9% in the second quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock worth $248,179,000 after purchasing an additional 4,141,275 shares during the last quarter. Hedge funds and other institutional investors own 77.07% of the company’s stock.

Shares of NASDAQ:MU traded up $0.70 during trading on Monday, reaching $48.73. 1,234,804 shares of the company traded hands, compared to its average volume of 23,019,346. The firm has a market capitalization of $52.14 billion, a price-to-earnings ratio of 7.92 and a beta of 1.97. Micron Technology, Inc. has a 52-week low of $28.39 and a 52-week high of $51.39. The company has a current ratio of 2.58, a quick ratio of 1.78 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $46.52 and its 200-day moving average is $41.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.13. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.56 billion. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The business’s quarterly revenue was down 42.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.53 earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 2.19 earnings per share for the current fiscal year.

Several research analysts recently weighed in on MU shares. Citigroup upped their price objective on shares of Micron Technology from $30.00 to $35.00 and gave the stock a “sell” rating in a research report on Friday, September 27th. BidaskClub lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Susquehanna Bancshares set a $45.00 target price on Micron Technology and gave the stock a “hold” rating in a research note on Friday, September 27th. Wedbush upped their target price on Micron Technology from $30.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, Cleveland Research reaffirmed a “hold” rating on shares of Micron Technology in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.36.

In related news, Director Patrick J. Byrne sold 23,264 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $43.27, for a total transaction of $1,006,633.28. Following the completion of the transaction, the director now owns 97,739 shares in the company, valued at $4,229,166.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. Following the transaction, the executive vice president now owns 110,236 shares of the company’s stock, valued at approximately $5,511,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,313 shares of company stock valued at $2,288,125. Insiders own 0.20% of the company’s stock.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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