Candriam Luxembourg S.C.A. Has $1,033,000 Position in Micron Technology Inc. (MU)
Candriam Luxembourg S.C.A. raised its stake in Micron Technology Inc. (NASDAQ:MU) by 7.8% during the second quarter, Holdings Channel reports. The institutional investor owned 75,054 shares of the semiconductor manufacturer’s stock after buying an additional 5,462 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Micron Technology were worth $1,033,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of MU. Primecap Management Co. CA increased its stake in Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock valued at $598,287,000 after buying an additional 5,961,872 shares in the last quarter. Natixis increased its stake in Micron Technology by 90.7% in the first quarter. Natixis now owns 6,019,111 shares of the semiconductor manufacturer’s stock valued at $63,020,000 after buying an additional 2,862,897 shares in the last quarter. Bank of Montreal Can acquired a new stake in Micron Technology during the second quarter valued at approximately $20,064,000. Amerigo Asset Management increased its stake in Micron Technology by 7.3% in the second quarter. Amerigo Asset Management now owns 17,913,834 shares of the semiconductor manufacturer’s stock valued at $246,494,000 after buying an additional 1,212,741 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Micron Technology during the second quarter valued at approximately $10,943,000. 81.42% of the stock is owned by institutional investors.
Micron Technology Inc. (NASDAQ:MU) traded up 0.17% during trading on Thursday, reaching $17.73. 21,606,840 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $17.03 and its 200-day moving average price is $13.29. The firm has a market cap of $18.41 billion, a price-to-earnings ratio of 50.95 and a beta of 1.77. Micron Technology Inc. has a 12 month low of $9.31 and a 12 month high of $19.30.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The company had revenue of $3.22 billion for the quarter. During the same period in the previous year, the company earned $0.37 earnings per share. Micron Technology’s revenue for the quarter was down 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Micron Technology Inc. will post $1.12 EPS for the current year.
Several analysts recently issued reports on the stock. Barclays PLC upped their price objective on shares of Micron Technology from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday. Vetr downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating and set a $17.99 price objective for the company. in a report on Thursday, August 25th. Cowen and Company reaffirmed a “buy” rating and set a $15.00 price objective on shares of Micron Technology in a report on Friday, July 1st. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Micron Technology in a report on Tuesday, July 26th. Finally, Brean Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Micron Technology in a report on Sunday, July 17th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.31.
In other news, VP Scott J. Deboer sold 31,500 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total transaction of $537,075.00. Following the transaction, the vice president now directly owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.
About Micron Technology
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