Sterling Investment Advisors Ltd. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 666.7% in the third quarter, HoldingsChannel.com reports. The fund owned 3,450 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,000 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Micron Technology were worth $156,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Ffcm LLC grew its holdings in shares of Micron Technology by 88.7% during the third quarter. Ffcm LLC now owns 101,314 shares of the semiconductor manufacturer’s stock worth $4,582,000 after buying an additional 47,614 shares in the last quarter. American International Group Inc. grew its holdings in shares of Micron Technology by 5.0% during the third quarter. American International Group Inc. now owns 499,951 shares of the semiconductor manufacturer’s stock worth $22,613,000 after buying an additional 24,010 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Micron Technology by 14.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 26,305 shares of the semiconductor manufacturer’s stock worth $1,190,000 after buying an additional 3,244 shares in the last quarter. Atlas Capital Advisors LLC grew its holdings in shares of Micron Technology by 32.2% during the third quarter. Atlas Capital Advisors LLC now owns 39,336 shares of the semiconductor manufacturer’s stock worth $1,776,000 after buying an additional 9,587 shares in the last quarter. Finally, Fosun International Ltd purchased a new stake in shares of Micron Technology during the third quarter worth $301,000. Institutional investors own 74.14% of the company’s stock.

NASDAQ MU opened at $36.99 on Wednesday. Micron Technology, Inc. has a 12 month low of $33.82 and a 12 month high of $64.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.16 and a current ratio of 2.79. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of 3.13, a P/E/G ratio of 0.58 and a beta of 1.69.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. Micron Technology’s revenue for the quarter was up 37.5% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 10.03 EPS for the current fiscal year.

A number of research firms have recently issued reports on MU. ValuEngine raised shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. BidaskClub raised shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Piper Jaffray Companies set a $48.00 price objective on shares of Micron Technology and gave the company a “hold” rating in a report on Saturday, October 20th. BMO Capital Markets reissued a “hold” rating and issued a $45.00 price objective (down previously from $63.00) on shares of Micron Technology in a report on Monday, September 17th. Finally, Deutsche Bank dropped their price objective on shares of Micron Technology from $80.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $65.49.

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Micron Technology Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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