Sumitomo Mitsui Asset Management Company LTD Has $180.14 Million Holdings in Micron Technology, Inc. (MU)

Sumitomo Mitsui Asset Management Company LTD raised its position in Micron Technology, Inc. (NASDAQ:MU) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,580,165 shares of the semiconductor manufacturer’s stock after buying an additional 401,028 shares during the quarter. Micron Technology makes up approximately 2.8% of Sumitomo Mitsui Asset Management Company LTD’s portfolio, making the stock its 2nd biggest position. Sumitomo Mitsui Asset Management Company LTD owned approximately 0.41% of Micron Technology worth $180,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Capital Research Global Investors increased its holdings 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 valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the period. Janus Henderson Group PLC increased its holdings 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 valued at $353,885,000 after purchasing an additional 8,834,274 shares during the period. Janus Capital Management LLC increased its holdings in shares of Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after purchasing an additional 3,896,978 shares during the period. BT Investment Management Ltd acquired a new position in shares of Micron Technology in the second quarter valued at approximately $95,449,000. Finally, Bank of Montreal Can increased its holdings in shares of Micron Technology by 116.0% in the second quarter. Bank of Montreal Can now owns 4,017,357 shares of the semiconductor manufacturer’s stock valued at $119,958,000 after purchasing an additional 2,157,673 shares during the period. Institutional investors own 77.14% of the company’s stock.

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In other news, SVP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total value of $28,220.00. Following the sale, the senior vice president now directly owns 50,542 shares in the company, valued at approximately $1,426,295.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the sale, the senior vice president now owns 289,940 shares in the company, valued at $11,046,714. The disclosure for this sale can be found here. Over the last quarter, insiders sold 334,415 shares of company stock worth $12,582,305. Corporate insiders own 0.69% of the company’s stock.

MU has been the topic of a number of recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 price objective 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 objective on the stock in a report on Wednesday, October 25th. Loop Capital reaffirmed a “buy” rating and set a $48.00 price objective (up previously 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 objective on shares of Micron Technology in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $46.35.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 1.66% during mid-day trading on Monday, hitting $41.53. The company had a trading volume of 20,457,493 shares. The firm’s 50 day moving average is $38.42 and its 200-day moving average is $32.01. The firm has a market cap of $46.06 billion, a PE ratio of 9.42 and a beta of 1.82. Micron Technology, Inc. has a 12-month low of $16.45 and a 12-month high of $42.19.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating 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 company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the company posted ($0.01) EPS. The company’s revenue was up 90.8% compared to the same quarter last year. On average, equities analysts expect that Micron Technology, Inc. will post $7.63 EPS for the current year.

Micron Technology Company Profile

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

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