Neuberger Berman Group LLC Buys 8,198 Shares of Micron Technology, Inc. (MU)
Neuberger Berman Group LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 66.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,605 shares of the semiconductor manufacturer’s stock after buying an additional 8,198 shares during the period. Neuberger Berman Group LLC’s holdings in Micron Technology were worth $615,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. Empire Life Investments Inc. acquired a new position in shares of Micron Technology in the 1st quarter valued at $8,813,000. American Century Companies Inc. acquired a new position in shares of Micron Technology in the 1st quarter valued at $533,000. HL Financial Services LLC lifted its stake in shares of Micron Technology by 14.2% in the 1st quarter. HL Financial Services LLC now owns 10,549 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 1,309 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Micron Technology by 2.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,309,532 shares of the semiconductor manufacturer’s stock valued at $66,745,000 after purchasing an additional 50,482 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Micron Technology in the 1st quarter valued at $892,000. 79.32% of the stock is currently owned by institutional investors.
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Several equities research analysts recently issued reports on MU shares. UBS AG reiterated an “average” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Loop Capital reiterated a “buy” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Micron Technology in a report on Thursday. Vetr upgraded Micron Technology from a “buy” rating to a “strong-buy” rating and set a $40.63 price objective on the stock in a report on Friday. Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Micron Technology in a report on Wednesday, June 14th. Finally, BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.89.
Micron Technology, Inc. (MU) opened at 35.91 on Friday. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $36.25. The company has a 50-day moving average price of $31.03 and a 200 day moving average price of $29.54. The stock has a market capitalization of $39.86 billion, a P/E ratio of 15.77 and a beta of 1.75. Micron Technology also was the recipient of unusually large options trading on Wednesday. Stock traders acquired 112,784 call options on the company. This represents an increase of 137% compared to the typical volume of 47,676 call options.
Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post $4.72 EPS for the current year.
In other Micron Technology news, SVP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the transaction, the senior vice president now owns 51,542 shares of the company’s stock, valued at $1,552,445.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott J. Deboer sold 29,500 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $35.00, for a total value of $1,032,500.00. Following the completion of the transaction, the executive vice president now directly owns 169,732 shares in the company, valued at approximately $5,940,620. The disclosure for this sale can be found here. Insiders sold 103,077 shares of company stock valued at $3,337,692 over the last 90 days. 0.69% of the stock is currently owned by insiders.
About Micron Technology
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