BARING ASSET MANAGEMENT Ltd Has $1.60 Million Position in Micron Technology, Inc. (MU)

BARING ASSET MANAGEMENT Ltd increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 318.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,598 shares of the semiconductor manufacturer’s stock after buying an additional 40,792 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Micron Technology were worth $1,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Micron Technology by 6.7% in the second quarter. Legal & General Group Plc now owns 5,547,614 shares of the semiconductor manufacturer’s stock worth $165,662,000 after buying an additional 347,201 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Micron Technology by 37.1% in the second quarter. Alps Advisors Inc. now owns 30,527 shares of the semiconductor manufacturer’s stock worth $912,000 after buying an additional 8,254 shares during the last quarter. Northpointe Capital LLC raised its position in shares of Micron Technology by 38.4% in the second quarter. Northpointe Capital LLC now owns 133,203 shares of the semiconductor manufacturer’s stock worth $3,977,000 after buying an additional 36,987 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of Micron Technology by 21.0% in the second quarter. State of Wisconsin Investment Board now owns 1,276,418 shares of the semiconductor manufacturer’s stock worth $38,114,000 after buying an additional 221,781 shares during the last quarter. Finally, LMR Partners LLP raised its position in shares of Micron Technology by 87.9% in the second quarter. LMR Partners LLP now owns 25,877 shares of the semiconductor manufacturer’s stock worth $773,000 after buying an additional 12,106 shares during the last quarter. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology, Inc. (MU) opened at 30.69 on Thursday. The company has a market cap of $34.07 billion, a PE ratio of 13.48 and a beta of 1.76. The stock has a 50 day moving average of $30.06 and a 200-day moving average of $28.14. Micron Technology, Inc. has a 12-month low of $15.38 and a 12-month high of $32.96.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Micron Technology’s revenue was up 92.2% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.

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A number of brokerages have weighed in on MU. Mizuho reaffirmed a “buy” rating and issued a $38.00 price target on shares of Micron Technology in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Micron Technology in a research note on Monday. Citigroup Inc. reaffirmed a “buy” rating and issued a $45.00 price target on shares of Micron Technology in a research note on Monday. Cowen and Company reaffirmed a “buy” rating on shares of Micron Technology in a research note on Thursday, August 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Micron Technology in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and an average target price of $35.65.

In related news, VP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $30.75, for a total value of $30,750.00. Following the completion of the sale, the vice president now owns 52,542 shares in the company, valued at approximately $1,615,666.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ernest E. Maddock bought 3,400 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $27.89 per share, with a total value of $94,826.00. Following the transaction, the chief financial officer now directly owns 192,385 shares in the company, valued at $5,365,617.65. The disclosure for this purchase can be found here. Insiders have sold 46,250 shares of company stock valued at $1,442,015 in the last three months. 0.69% of the stock is owned by insiders.

Micron Technology Company Profile

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

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