Baird Financial Group Inc. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,708 shares of the semiconductor manufacturer’s stock after buying an additional 5,311 shares during the quarter. Baird Financial Group Inc.’s holdings in Micron Technology were worth $3,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. Senator Investment Group LP purchased a new position in shares of Micron Technology during the second quarter worth about $140,277,000. Point72 Asset Management L.P. grew its holdings in shares of Micron Technology by 632.0% during the second quarter. Point72 Asset Management L.P. now owns 2,027,604 shares of the semiconductor manufacturer’s stock worth $106,328,000 after buying an additional 1,750,604 shares during the last quarter. Natixis grew its holdings in shares of Micron Technology by 345.7% during the second quarter. Natixis now owns 2,028,745 shares of the semiconductor manufacturer’s stock worth $106,388,000 after buying an additional 1,573,549 shares during the last quarter. Parnassus Investments CA grew its holdings in shares of Micron Technology by 40.0% during the second quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock worth $256,956,000 after buying an additional 1,400,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Micron Technology by 15.8% during the third quarter. Janus Henderson Group PLC now owns 9,500,254 shares of the semiconductor manufacturer’s stock worth $429,725,000 after buying an additional 1,294,408 shares during the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MU opened at $35.31 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16. The firm has a market capitalization of $41.83 billion, a price-to-earnings ratio of 2.99, a price-to-earnings-growth ratio of 0.59 and a beta of 1.63. Micron Technology, Inc. has a fifty-two week low of $33.82 and a fifty-two week high of $64.66.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The company had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. Micron Technology’s revenue was up 37.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. On average, analysts forecast that Micron Technology, Inc. will post 9.86 EPS for the current year.

A number of equities research analysts have weighed in on the company. Bank of America lowered their price objective on Micron Technology from $85.00 to $55.00 and set a “buy” rating on the stock in a report on Friday. Zacks Investment Research lowered Micron Technology from a “hold” rating to a “sell” rating in a report on Friday. Macquarie set a $70.00 price objective on Micron Technology and gave the company a “buy” rating in a report on Friday, September 21st. Barclays lowered their price objective on Micron Technology to $60.00 and set an “overweight” rating on the stock in a report on Friday, September 21st. Finally, Wells Fargo & Co lowered their price objective on Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and a consensus target price of $64.51.

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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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