Manning & Napier Group LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 135.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,200,323 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,416,447 shares during the period. Micron Technology makes up approximately 2.0% of Manning & Napier Group LLC’s investment portfolio, making the stock its 11th largest position. Manning & Napier Group LLC owned 0.38% of Micron Technology worth $179,983,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Virtus ETF Advisers LLC purchased a new stake in shares of Micron Technology in the second quarter valued at about $25,000. Doyle Wealth Management acquired a new position in shares of Micron Technology in the second quarter valued at approximately $30,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Micron Technology in the second quarter valued at approximately $37,000. Griffin Asset Management Inc. acquired a new position in shares of Micron Technology in the second quarter valued at approximately $39,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Micron Technology in the third quarter valued at approximately $44,000. 76.66% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP April S. Arnzen sold 4,800 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $216,000.00. Following the completion of the sale, the senior vice president now owns 79,392 shares of the company’s stock, valued at $3,572,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael W. Bokan sold 20,488 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $45.71, for a total transaction of $936,506.48. Following the completion of the sale, the senior vice president now directly owns 43,117 shares of the company’s stock, valued at approximately $1,970,878.07. The disclosure for this sale can be found here. Insiders sold 82,212 shares of company stock valued at $3,857,055 in the last three months. Company insiders own 0.20% of the company’s stock.

MU has been the subject of a number of analyst reports. Mizuho set a $50.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC boosted their price objective on shares of Micron Technology to $60.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Raymond James reissued a “hold” rating on shares of Micron Technology in a research report on Monday, September 30th. BMO Capital Markets boosted their price objective on shares of Micron Technology from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Finally, Cleveland Research reissued a “hold” rating on shares of Micron Technology in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $53.36.

MU stock traded up $0.71 on Thursday, hitting $43.58. 2,588,749 shares of the company were exchanged, compared to its average volume of 25,189,012. Micron Technology, Inc. has a twelve month low of $28.39 and a twelve month high of $51.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.78. The business’s fifty day moving average is $46.30 and its two-hundred day moving average is $41.62. The stock has a market capitalization of $48.25 billion, a price-to-earnings ratio of 7.09 and a beta of 1.97.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 EPS for the quarter, topping the consensus estimate of $0.43 by $0.13. Micron Technology had a net margin of 26.97% and a return on equity of 19.81%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the business posted $3.53 earnings per share. Micron Technology’s revenue for the quarter was down 42.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 2.31 earnings per share for the current year.

Micron Technology Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Further Reading: Price-Sales Ratio

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.