Micron Technology, Inc. (MU) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 12,907,706 shares of the semiconductor manufacturer’s stock after acquiring an additional 835,541 shares during the period. Geode Capital Management LLC’s holdings in Micron Technology were worth $529,730,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Micron Technology by 26.7% during the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 9,810 shares of the semiconductor manufacturer’s stock worth $403,000 after acquiring an additional 2,070 shares during the period. Swiss National Bank grew its holdings in Micron Technology by 1.3% during the 3rd quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock worth $152,384,000 after acquiring an additional 49,200 shares during the period. LMR Partners LLP grew its holdings in Micron Technology by 6.9% during the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock worth $1,088,000 after acquiring an additional 1,776 shares during the period. AMP Capital Investors Ltd grew its holdings in Micron Technology by 14.1% during the 3rd quarter. AMP Capital Investors Ltd now owns 801,496 shares of the semiconductor manufacturer’s stock worth $31,521,000 after acquiring an additional 99,231 shares during the period. Finally, Sei Investments Co. grew its holdings in Micron Technology by 5.1% during the 3rd quarter. Sei Investments Co. now owns 1,561,222 shares of the semiconductor manufacturer’s stock worth $61,403,000 after acquiring an additional 76,222 shares during the period. Hedge funds and other institutional investors own 81.34% of the company’s stock.
A number of analysts have commented on MU shares. Deutsche Bank reaffirmed a “buy” rating and set a $50.00 target price on shares of Micron Technology in a report on Tuesday, November 7th. JPMorgan Chase & Co. lifted 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. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 target price for the company in a report on Wednesday, November 15th. Morgan Stanley lifted their target price on shares of Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 target price (up previously from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $55.88.
Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. analysts predict that Micron Technology, Inc. will post 10.12 earnings per share for the current year.
In related news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 27,878 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the completion of the transaction, the senior vice president now directly owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,692 shares of company stock valued at $7,349,827. Company insiders own 0.53% of the company’s stock.
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Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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