CIBC Asset Management Inc increased its position in Micron Technology, Inc. (NASDAQ:MU) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 141,479 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,712 shares during the quarter. CIBC Asset Management Inc’s holdings in Micron Technology were worth $5,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings in Micron Technology by 386.6% during the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after buying an additional 31,616,346 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 buying an additional 74,670 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Micron Technology by 292.8% during the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after buying an additional 8,834,274 shares in the last quarter. Amerigo Asset Management grew its holdings in 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 buying an additional 860,000 shares in the last quarter. Finally, CI Investments Inc. grew its holdings in 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 buying an additional 200,150 shares in the last quarter. 75.45% of the stock is owned by institutional investors.

Shares of Micron Technology, Inc. (MU) traded down $0.10 during mid-day trading on Wednesday, hitting $45.70. The stock had a trading volume of 10,335,059 shares, compared to its average volume of 28,981,148. The firm has a market cap of $52,030.00, a PE ratio of 10.27, a PEG ratio of 0.61 and a beta of 1.78. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. Micron Technology, Inc. has a fifty-two week low of $17.66 and a fifty-two week high of $46.00.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. research analysts expect that Micron Technology, Inc. will post 7.42 EPS for the current year.

A number of research analysts have weighed in on MU shares. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 target price on shares of Micron Technology in a report on Wednesday, August 2nd. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 target price for the company in a report on Wednesday, October 25th. Loop Capital reiterated a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $75.00 price target on shares of Micron Technology in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.96.

In related news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the sale, the senior vice president now owns 289,940 shares in the company, valued at $11,046,714. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total transaction of $133,650.00. Following the completion of the sale, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. Insiders sold a total of 308,415 shares of company stock valued at $11,836,825 in the last ninety days. 0.69% of the stock is currently owned by insiders.

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Micron Technology Company Profile

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

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