Micron Technology, Inc. (MU) Position Trimmed by Emerald Advisers Inc. PA

Emerald Advisers Inc. PA trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 65.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,912 shares of the semiconductor manufacturer’s stock after selling 9,442 shares during the period. Emerald Advisers Inc. PA’s holdings in Micron Technology were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in Micron Technology by 1.4% during the first quarter. Principal Financial Group Inc. now owns 1,768,868 shares of the semiconductor manufacturer’s stock worth $92,229,000 after purchasing an additional 24,882 shares during the period. IFM Investors Pty Ltd boosted its position in Micron Technology by 45.5% during the second quarter. IFM Investors Pty Ltd now owns 52,269 shares of the semiconductor manufacturer’s stock worth $2,741,000 after purchasing an additional 16,356 shares during the period. Silverleafe Capital Partners LLC boosted its position in Micron Technology by 5.9% during the second quarter. Silverleafe Capital Partners LLC now owns 20,230 shares of the semiconductor manufacturer’s stock worth $1,061,000 after purchasing an additional 1,130 shares during the period. Empowered Funds LLC boosted its position in Micron Technology by 27.8% during the second quarter. Empowered Funds LLC now owns 76,333 shares of the semiconductor manufacturer’s stock worth $4,056,000 after purchasing an additional 16,587 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Micron Technology by 18.8% during the second quarter. Fisher Asset Management LLC now owns 6,932 shares of the semiconductor manufacturer’s stock worth $364,000 after purchasing an additional 1,096 shares during the period. Institutional investors and hedge funds own 75.48% of the company’s stock.

MU has been the subject of a number of research analyst reports. Macquarie set a $70.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research report on Friday, September 21st. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Cowen set a $62.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $84.00 price objective on shares of Micron Technology in a research report on Wednesday, September 19th. Finally, Morgan Stanley reduced their price objective on shares of Micron Technology from $65.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday, September 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $66.92.

Shares of Micron Technology stock opened at $40.32 on Friday. The stock has a market capitalization of $45.73 billion, a PE ratio of 3.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.69. Micron Technology, Inc. has a 52-week low of $33.82 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. Micron Technology’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 10.19 earnings per share for the current year.

Micron Technology Company Profile

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

See Also: Initial Public Offering (IPO)

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

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