Capital Research Global Investors raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 386.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,794,346 shares of the semiconductor manufacturer’s stock after purchasing an additional 31,616,346 shares during the quarter. Capital Research Global Investors owned 3.59% of Micron Technology worth $1,188,259,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Micron Technology by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock valued at $2,489,492,000 after buying an additional 4,004,759 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after purchasing an additional 74,670 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Micron Technology by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock valued at $317,719,000 after purchasing an additional 1,128,565 shares during the last quarter. Amerigo Asset Management increased its position in shares of Micron Technology by 11.9% during the 2nd quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock valued at $241,193,000 after purchasing an additional 860,000 shares during the last quarter. Finally, CI Investments Inc. increased its position in shares of Micron Technology by 2.7% during the 2nd quarter. CI Investments Inc. now owns 7,535,000 shares of the semiconductor manufacturer’s stock valued at $224,995,000 after purchasing an additional 200,150 shares during the last quarter. 79.32% of the stock is currently owned by institutional investors and hedge funds.

In other Micron Technology news, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the completion of the sale, the executive vice president now owns 140,232 shares in the company, valued at approximately $4,767,888. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total value of $859,465.00. Following the sale, the senior vice president now owns 292,211 shares of the company’s stock, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. Insiders have sold a total of 99,077 shares of company stock worth $3,219,522 in the last ninety days. 0.69% of the stock is currently owned by insiders.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 1.0153% during trading on Monday, hitting $39.7293. 25,349,593 shares of the company were exchanged. The stock has a market cap of $44.10 billion, a P/E ratio of 17.4481 and a beta of 1.82. The company’s 50-day moving average price is $31.03 and its 200 day moving average price is $29.54. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $40.37.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post $7.56 earnings per share for the current fiscal year.

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MU has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of Micron Technology from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $33.00 target price (up from $30.00) on shares of Micron Technology in a research report on Friday, June 30th. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Citigroup Inc. set a $45.00 price target on shares of Micron Technology and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Micron Technology in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $42.93.

About Micron Technology

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

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