Standard Life Investments LTD purchased a new stake in shares of Micron Technology Inc. (NASDAQ:MU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,518,129 shares of the semiconductor manufacturer’s stock, valued at approximately $89,591,000. Standard Life Investments LTD owned approximately 0.63% of Micron Technology at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Aperio Group LLC increased its position in Micron Technology by 31.8% in the first quarter. Aperio Group LLC now owns 317,043 shares of the semiconductor manufacturer’s stock worth $3,319,000 after buying an additional 76,525 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its position in Micron Technology by 62.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 241,089 shares of the semiconductor manufacturer’s stock worth $2,524,000 after buying an additional 93,100 shares in the last quarter. IFP Advisors Inc increased its position in Micron Technology by 20.3% in the first quarter. IFP Advisors Inc now owns 28,908 shares of the semiconductor manufacturer’s stock worth $303,000 after buying an additional 4,873 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Micron Technology by 221.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,112 shares of the semiconductor manufacturer’s stock worth $389,000 after buying an additional 25,560 shares in the last quarter. Finally, Teachers Advisors Inc. increased its position in Micron Technology by 7.4% in the first quarter. Teachers Advisors Inc. now owns 1,884,026 shares of the semiconductor manufacturer’s stock worth $19,726,000 after buying an additional 130,247 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.

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

Micron Technology Inc. (NASDAQ:MU) traded up 0.39% during mid-day trading on Tuesday, reaching $17.80. The company’s stock had a trading volume of 54,385,954 shares. Micron Technology Inc. has a 12-month low of $9.31 and a 12-month high of $19.30. The firm’s 50 day moving average is $16.84 and its 200-day moving average is $13.18. The company has a market cap of $18.48 billion, a PE ratio of 51.15 and a beta of 1.76.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.07 billion. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. Micron Technology’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. Equities analysts anticipate that Micron Technology Inc. will post ($0.01) earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on MU shares. Credit Suisse Group AG reissued an “outperform” rating and issued a $20.00 price target on shares of Micron Technology in a report on Tuesday. Barclays PLC boosted their price target on shares of Micron Technology from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday. Nomura reissued a “buy” rating and issued a $23.00 price target on shares of Micron Technology in a report on Friday. Susquehanna set a $20.00 price target on shares of Micron Technology and gave the stock a “buy” rating in a report on Thursday, September 29th. Finally, MKM Partners reissued a “buy” rating and issued a $21.00 price target on shares of Micron Technology in a report on Tuesday, September 27th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $17.76.

In other news, VP Scott J. Deboer sold 31,500 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the transaction, the vice president now owns 207,265 shares in the company, valued at $3,533,868.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

About Micron Technology

5 Day Chart for NASDAQ:MU

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