CI Investments Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,570,300 shares of the semiconductor manufacturer’s stock after acquiring an additional 35,300 shares during the quarter. Micron Technology accounts for 2.7% of CI Investments Inc.’s portfolio, making the stock its 4th biggest holding. CI Investments Inc. owned about 0.66% of Micron Technology worth $297,740,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in MU. Capital Research Global Investors boosted its holdings in Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after acquiring an additional 31,616,346 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares in the last quarter. BT Investment Management Ltd bought a new position in shares of Micron Technology during the second quarter valued at $95,449,000. Pioneer Investment Management Inc. lifted its holdings in shares of Micron Technology by 298.4% during the second quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock valued at $77,347,000 after purchasing an additional 1,940,212 shares in the last quarter. Finally, Marshall Wace North America L.P. lifted its holdings in shares of Micron Technology by 7,981.1% during the second quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock valued at $53,447,000 after purchasing an additional 1,759,521 shares in the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Micron Technology, Inc. (MU) traded up $1.02 during midday trading on Monday, hitting $45.80. The stock had a trading volume of 21,671,754 shares, compared to its average volume of 28,969,953. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology, Inc. has a 12-month low of $16.90 and a 12-month high of $45.33. The stock has a market capitalization of $52,600.00, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the 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 firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. research analysts expect that Micron Technology, Inc. will post 7.42 EPS for the current year.
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A number of research analysts have recently issued reports on MU shares. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 price target on shares of Micron Technology in a report on Wednesday, August 2nd. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target on the stock in a report on Wednesday, October 25th. Loop Capital reaffirmed a “buy” rating and set a $48.00 price target (up from $46.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price target on shares of Micron Technology in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and an average target price of $46.96.
In other news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $32.64, for a total value of $97,920.00. Following the sale, the director now directly owns 117,284 shares in the company, valued at $3,828,149.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joel L. Poppen sold 80,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the transaction, the insider now owns 266,966 shares in the company, valued at $10,307,557.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 333,415 shares of company stock worth $12,602,325. Company insiders own 0.69% of the company’s stock.
Micron Technology Profile
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