Rubric Capital Management LP grew its position in Micron Technology, Inc. (NASDAQ:MU) by 130.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 340,000 shares during the period. Micron Technology comprises about 2.2% of Rubric Capital Management LP’s holdings, making the stock its 11th largest position. Rubric Capital Management LP owned approximately 0.05% of Micron Technology worth $23,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group increased its holdings in shares of Micron Technology by 16.3% during the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after acquiring an additional 232,083 shares during the last quarter. Swiss National Bank grew its holdings in 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 buying an additional 49,200 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Micron Technology by 8.0% in 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 last quarter. LMR Partners LLP grew its holdings in Micron Technology by 6.9% in the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock valued at $1,088,000 after buying an additional 1,776 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Micron Technology by 4.0% in 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 buying an additional 140,996 shares during the last quarter. 81.16% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology, Inc. (NASDAQ:MU) opened at $42.24 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $48,443.70, a P/E ratio of 9.43, a P/E/G ratio of 0.56 and a beta of 1.75. Micron Technology, Inc. has a 52-week low of $19.98 and a 52-week high of $49.89.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. Micron Technology’s revenue was up 90.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. analysts forecast that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

In related news, insider Joel L. Poppen sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the completion of the transaction, the insider now owns 266,966 shares in the company, valued at approximately $10,307,557.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold a total of 268,588 shares of company stock valued at $10,480,038 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

A number of research firms have issued reports on MU. Mizuho reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Cowen reaffirmed an “outperform” rating and issued a $43.00 target price (up previously from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Longbow Research reiterated a “buy” rating and issued a $50.00 price objective (up previously from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Deutsche Bank reiterated a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, BMO Capital Markets started coverage on Micron Technology in a research report on Monday, October 2nd. They issued a “market perform” rating and a $43.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $48.26.

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Micron Technology Company Profile

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

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