APG Asset Management N.V. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 27.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,791,568 shares of the semiconductor manufacturer’s stock after selling 1,031,700 shares during the quarter. APG Asset Management N.V.’s holdings in Micron Technology were worth $94,597,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of MU. Banco de Sabadell S.A boosted its stake in shares of Micron Technology by 10.8% during the 2nd quarter. Banco de Sabadell S.A now owns 10,300 shares of the semiconductor manufacturer’s stock worth $397,000 after buying an additional 1,000 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Micron Technology in the second quarter valued at approximately $54,743,000. Natixis increased its stake in Micron Technology by 80.4% in the second quarter. Natixis now owns 130,547 shares of the semiconductor manufacturer’s stock valued at $5,038,000 after acquiring an additional 58,189 shares during the last quarter. Seeyond boosted its position in Micron Technology by 2.6% in the second quarter. Seeyond now owns 37,442 shares of the semiconductor manufacturer’s stock valued at $1,445,000 after buying an additional 940 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in Micron Technology by 6.7% in the second quarter. Pictet Asset Management Ltd. now owns 580,738 shares of the semiconductor manufacturer’s stock valued at $22,411,000 after buying an additional 36,442 shares in the last quarter. 76.73% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Michael W. Bokan sold 20,488 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $45.71, for a total value of $936,506.48. Following the sale, the senior vice president now owns 43,117 shares in the company, valued at $1,970,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total transaction of $216,000.00. Following the completion of the sale, the senior vice president now owns 79,392 shares in the company, valued at approximately $3,572,640. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,735 shares of company stock valued at $3,736,994. 0.20% of the stock is owned by company insiders.
Shares of MU stock opened at $50.44 on Friday. The stock has a market capitalization of $54.23 billion, a P/E ratio of 4.27 and a beta of 1.95. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $44.93 and its 200 day moving average is $40.76. Micron Technology, Inc. has a 12 month low of $28.39 and a 12 month high of $51.39.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The firm’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.15 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.07 EPS for the current year.
Several research firms recently issued reports on MU. Susquehanna Bancshares restated a “hold” rating on shares of Micron Technology in a report on Monday, August 26th. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Longbow Research upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday. Barclays upped their target price on shares of Micron Technology from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Mizuho increased their target price on shares of Micron Technology from $44.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $50.19.
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.
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