MML Investors Services LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 38.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,048 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,159 shares during the period. MML Investors Services LLC’s holdings in Micron Technology were worth $2,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Senator Investment Group LP bought a new position in Micron Technology during the 2nd quarter valued at $140,277,000. Point72 Asset Management L.P. lifted its stake in Micron Technology by 632.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,027,604 shares of the semiconductor manufacturer’s stock valued at $106,328,000 after acquiring an additional 1,750,604 shares in the last quarter. Natixis lifted its stake in Micron Technology by 345.7% during the 2nd quarter. Natixis now owns 2,028,745 shares of the semiconductor manufacturer’s stock valued at $106,388,000 after acquiring an additional 1,573,549 shares in the last quarter. Parnassus Investments CA lifted its stake in Micron Technology by 40.0% during the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock valued at $256,956,000 after acquiring an additional 1,400,000 shares in the last quarter. Finally, Global Thematic Partners LLC lifted its stake in Micron Technology by 178.5% during the 2nd quarter. Global Thematic Partners LLC now owns 1,273,854 shares of the semiconductor manufacturer’s stock valued at $66,802,000 after acquiring an additional 816,374 shares in the last quarter. Institutional investors own 74.14% of the company’s stock.

MU has been the topic of several recent analyst reports. Raymond James initiated coverage on Micron Technology in a research note on Monday, October 22nd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $84.00 price objective on shares of Micron Technology in a research note on Wednesday, September 19th. Wells Fargo & Co dropped their price objective on Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 15th. They noted that the move was a valuation call. BidaskClub cut Micron Technology from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research lowered Micron Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Micron Technology currently has a consensus rating of “Buy” and an average target price of $65.49.

Shares of NASDAQ MU opened at $36.12 on Wednesday. Micron Technology, Inc. has a 52 week low of $33.82 and a 52 week high of $64.66. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of 3.06, a P/E/G ratio of 0.58 and a beta of 1.69.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, topping the consensus estimate of $3.33 by $0.20. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter last year, the company earned $2.02 EPS. The firm’s revenue was up 37.5% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 10.03 earnings per share for the current fiscal year.

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Micron Technology Company 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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