Skandinaviska Enskilda Banken AB publ Boosts Holdings in Micron Technology, Inc. (MU)

Skandinaviska Enskilda Banken AB publ raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,627 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Micron Technology were worth $6,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Schroder Investment Management Group increased its position in Micron Technology by 16.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after acquiring an additional 232,083 shares in the last quarter. Swiss National Bank grew its position in shares of Micron Technology by 1.3% during the 3rd quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock worth $152,384,000 after buying an additional 49,200 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Micron Technology by 8.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock worth $1,342,000 after buying an additional 3,317 shares during the period. LMR Partners LLP grew its position in shares of Micron Technology by 6.9% during the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock worth $1,088,000 after buying an additional 1,776 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Micron Technology by 4.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock worth $108,322,000 after buying an additional 140,996 shares during the period. Hedge funds and other institutional investors own 81.16% of the company’s stock.

Micron Technology, Inc. (MU) opened at $41.99 on Friday. The stock has a market cap of $48,425.18, a P/E ratio of 9.46, a P/E/G ratio of 0.57 and a beta of 1.76. 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 1-year low of $18.30 and a 1-year high of $49.89.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was up 90.8% on a year-over-year basis. equities analysts forecast that Micron Technology, Inc. will post 7.42 EPS for the current year.

In other Micron Technology news, EVP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the transaction, the executive vice president now owns 140,232 shares of the company’s stock, valued at $4,767,888. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the completion of the transaction, the senior vice president now directly owns 289,940 shares in the company, valued at approximately $11,046,714. The disclosure for this sale can be found here. In the last ninety days, insiders sold 305,088 shares of company stock worth $11,728,398. Insiders own 0.69% of the company’s stock.

Several equities research analysts have recently commented on MU shares. Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. BidaskClub upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target for the company in a research report on Wednesday, October 25th. Loop Capital reiterated a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $75.00 price target on shares of Micron Technology in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $48.20.

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Micron Technology Company Profile

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

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