BARING ASSET MANAGEMENT Ltd raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 318.5% during the second quarter, Holdings Channel reports. The firm owned 53,598 shares of the semiconductor manufacturer’s stock after buying an additional 40,792 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Micron Technology were worth $1,601,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MU. Vanguard Group Inc. increased its position in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares in the last quarter. Janus Capital Management LLC increased its position in 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 worth $161,085,000 after buying an additional 3,896,978 shares in the last quarter. Westpac Banking Corp increased its position in Micron Technology by 790.9% in the first quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock worth $113,251,000 after buying an additional 3,246,321 shares in the last quarter. CIBC World Markets Inc. increased its position in Micron Technology by 2,661.9% in the first quarter. CIBC World Markets Inc. now owns 2,687,100 shares of the semiconductor manufacturer’s stock worth $77,657,000 after buying an additional 2,589,807 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock worth $168,310,000 after buying an additional 2,281,331 shares in the last quarter. 80.36% of the stock is currently owned by institutional investors.

Shares of Micron Technology, Inc. (MU) opened at 30.69 on Thursday. The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of 13.48 and a beta of 1.76. The company’s 50 day moving average price is $30.06 and its 200-day moving average price is $28.14. Micron Technology, Inc. has a 52 week low of $15.38 and a 52 week high of $32.96.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.25. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. Analysts anticipate that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.

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A number of research firms have weighed in on MU. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. Stifel Nicolaus reissued a “buy” rating on shares of Micron Technology in a report on Monday, June 26th. Barclays PLC increased their target price on Micron Technology from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, June 27th. Zacks Investment Research raised Micron Technology from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, June 27th. Finally, Rosenblatt Securities reissued a “buy” rating on shares of Micron Technology in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $35.65.

In other Micron Technology news, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the sale, the senior vice president now directly owns 292,211 shares in the company, valued at $9,216,334.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the completion of the sale, the vice president now owns 52,542 shares in the company, valued at $1,615,666.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,250 shares of company stock worth $1,442,015. Insiders own 0.69% of the company’s stock.

Micron Technology Company Profile

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

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