Hartford Investment Management Co. Purchases 14,795 Shares of Micron Technology, Inc. (MU)
Hartford Investment Management Co. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 6.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 239,717 shares of the semiconductor manufacturer’s stock after buying an additional 14,795 shares during the quarter. Hartford Investment Management Co.’s holdings in Micron Technology were worth $9,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its position in Micron Technology by 16.3% during the second quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after purchasing an additional 232,083 shares during the period. Swiss National Bank lifted its stake in shares of Micron Technology by 1.3% in the 3rd quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock valued at $152,384,000 after acquiring an additional 49,200 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Micron Technology by 8.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after buying an additional 3,317 shares during the period. LMR Partners LLP increased its stake in Micron Technology by 6.9% in the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock worth $1,088,000 after buying an additional 1,776 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Micron Technology by 4.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock valued at $108,322,000 after acquiring an additional 140,996 shares in the last quarter. 81.16% of the stock is owned by institutional investors and hedge funds.
Shares of Micron Technology, Inc. (NASDAQ:MU) opened at $42.39 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. The firm has a market cap of $55,275.51, a P/E ratio of 10.80, a PEG ratio of 0.65 and a beta of 1.78. Micron Technology, Inc. has a one year low of $18.18 and a one year high of $49.89.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the business earned ($0.01) EPS. The firm’s quarterly revenue was up 90.8% on a year-over-year basis. sell-side analysts forecast that Micron Technology, Inc. will post 7.42 earnings per share for the current year.
A number of research firms have recently weighed in on MU. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a research note on Friday, November 17th. Deutsche Bank reiterated a “buy” rating and issued a $50.00 price target on shares of Micron Technology in a research note on Tuesday, November 7th. UBS restated a “buy” rating and set a $53.00 price objective (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co increased their target price on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, Evercore ISI lifted their price target on Micron Technology from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, September 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $48.20.
In related news, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the sale, the executive vice president now owns 140,232 shares in the company, valued at approximately $4,767,888. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 29,500 shares of the 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 sale, the executive vice president now owns 169,732 shares in the company, valued at $5,940,620. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,088 shares of company stock valued at $11,728,398. 0.69% of the stock is owned by company insiders.
Micron Technology Profile
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