Micron Technology, Inc. (MU) Stake Decreased by Bp Plc

Bp Plc trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,000 shares of the semiconductor manufacturer’s stock after selling 19,000 shares during the quarter. Bp Plc’s holdings in Micron Technology were worth $3,965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in Micron Technology by 518.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,983 shares of the semiconductor manufacturer’s stock worth $576,000 after acquiring an additional 9,208 shares during the last quarter. First Manhattan Co. grew its holdings in Micron Technology by 211.1% during the 3rd quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock worth $126,000 after acquiring an additional 1,900 shares during the last quarter. First Hawaiian Bank bought a new stake in Micron Technology during the 3rd quarter worth about $545,000. Raymond James Trust N.A. grew its holdings in Micron Technology by 19.3% during the 3rd quarter. Raymond James Trust N.A. now owns 12,393 shares of the semiconductor manufacturer’s stock worth $561,000 after acquiring an additional 2,005 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings in Micron Technology by 2.7% during the 3rd quarter. Gateway Investment Advisers LLC now owns 491,452 shares of the semiconductor manufacturer’s stock worth $22,228,000 after acquiring an additional 12,914 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

A number of brokerages have commented on MU. Raymond James began coverage on shares of Micron Technology in a report on Monday, October 22nd. They set a “market perform” rating on the stock. Piper Jaffray Companies set a $48.00 price objective on shares of Micron Technology and gave the stock a “hold” rating in a report on Saturday, October 20th. BidaskClub raised shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. ValuEngine raised shares of Micron Technology from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, UBS Group lowered shares of Micron Technology from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and an average price target of $59.52.

Shares of NASDAQ:MU opened at $41.68 on Thursday. The company has a market capitalization of $45.29 billion, a P/E ratio of 3.53, a PEG ratio of 0.79 and a beta of 1.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.90. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $64.66.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.01 billion. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. During the same period last year, the company posted $2.45 EPS. On average, analysts forecast that Micron Technology, Inc. will post 7.7 EPS for the current fiscal year.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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