Aperio Group LLC Boosts Stake in Micron Technology, Inc. (MU)

Aperio Group LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 511,131 shares of the semiconductor manufacturer’s stock after buying an additional 42,525 shares during the quarter. Aperio Group LLC’s holdings in Micron Technology were worth $20,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Capital Research Global Investors increased its position in shares of 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 purchasing an additional 31,616,346 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after purchasing an additional 74,670 shares during the period. Janus Henderson Group PLC increased its position in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after purchasing an additional 8,834,274 shares during the period. Amerigo Asset Management increased its position in shares of Micron Technology by 11.9% in the second quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock worth $241,193,000 after purchasing an additional 860,000 shares during the period. Finally, CI Investments Inc. increased its position in shares of Micron Technology by 2.7% in the second quarter. CI Investments Inc. now owns 7,535,000 shares of the semiconductor manufacturer’s stock worth $224,995,000 after purchasing an additional 200,150 shares during the period. 77.14% of the stock is owned by institutional investors.

A number of research firms have issued reports on MU. UBS AG reiterated a “buy” rating and issued a $53.00 target price (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. BidaskClub cut Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) upgraded Micron Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a report on Tuesday, September 12th. Susquehanna Bancshares Inc boosted their price target on Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a report on Tuesday, September 19th. Finally, Macquarie restated a “buy” rating on shares of Micron Technology in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.35.

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Micron Technology, Inc. (NASDAQ MU) opened at 40.85 on Monday. The company has a market capitalization of $45.30 billion, a price-to-earnings ratio of 9.26 and a beta of 1.82. Micron Technology, Inc. has a 52-week low of $16.45 and a 52-week high of $42.19. The company’s 50-day moving average price is $38.42 and its 200 day moving average price is $32.01.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company’s quarterly revenue was up 90.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post $7.63 EPS for the current fiscal year.

In related news, EVP Scott J. Deboer sold 16,950 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $41.40, for a total value of $701,730.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the transaction, the executive vice president now directly owns 122,667 shares in the company, valued at approximately $5,152,014. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,415 shares of company stock worth $12,582,305. Insiders own 0.69% of the company’s stock.

Micron Technology Company Profile

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

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