Nippon Life Insurance Co. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,124 shares of the semiconductor manufacturer’s stock after buying an additional 6,884 shares during the period. Nippon Life Insurance Co.’s holdings in Micron Technology were worth $1,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 14,005,627 shares of the semiconductor manufacturer’s stock worth $404,753,000 after buying an additional 117,152 shares during the period. Geode Capital Management LLC raised its stake in shares of Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after buying an additional 1,128,565 shares during the period. Amerigo Asset Management raised its stake in shares of Micron Technology by 11.9% in the second quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock worth $241,193,000 after buying an additional 860,000 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of 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 during the period. 80.36% of the stock is currently owned by institutional investors.

Micron Technology, Inc. (NASDAQ MU) opened at 30.38 on Monday. Micron Technology, Inc. has a 52-week low of $15.38 and a 52-week high of $32.96. The firm has a 50-day moving average price of $29.95 and a 200 day moving average price of $28.20. The stock has a market cap of $33.72 billion, a PE ratio of 13.34 and a beta of 1.76.

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

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A number of analysts have issued reports on the stock. Robert W. Baird reiterated an “outperform” rating and set a $40.00 price target on shares of Micron Technology in a research note on Monday, June 19th. Cowen and Company boosted their price target on shares of Micron Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $33.00 price target (up from $30.00) on shares of Micron Technology in a research note on Friday, June 30th. Morgan Stanley reiterated an “overweight” rating and set a $36.00 price target on shares of Micron Technology in a research note on Monday, August 14th. Finally, Mizuho boosted their price target on shares of Micron Technology from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.65.

In other news, VP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $30.75, for a total transaction of $30,750.00. Following the sale, the vice president now directly owns 52,542 shares of the company’s stock, valued at $1,615,666.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott J. Deboer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the sale, the vice president now directly owns 150,232 shares in the company, valued at $4,807,424. The disclosure for this sale can be found here. Insiders have sold 71,250 shares of company stock worth $2,207,515 over the last ninety days. 0.69% of the stock is owned by insiders.

About Micron Technology

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

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