Boston Partners Buys New Position in Micron Technology, Inc. (MU)
Boston Partners bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,634 shares of the semiconductor manufacturer’s stock, valued at approximately $812,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Research Global Investors raised its stake in shares of Micron Technology by 386.6% during the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after buying an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Micron Technology by 0.5% in the second 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 in the last quarter. Janus Henderson Group PLC increased its stake in Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares in the last quarter. Amerigo Asset Management increased its stake in Micron Technology by 11.9% in the second 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 in the last quarter. Finally, CI Investments Inc. increased its stake in Micron Technology by 2.7% in the second 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 in the last quarter. 76.85% of the stock is owned by institutional investors.
In other Micron Technology news, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the transaction, the insider now directly owns 266,966 shares of the company’s stock, valued at approximately $10,307,557.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total transaction of $133,650.00. Following the transaction, the director now directly owns 117,299 shares in the company, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold a total of 308,415 shares of company stock valued at $11,836,825 in the last 90 days. 0.69% of the stock is currently owned by company insiders.
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Shares of Micron Technology, Inc. (NASDAQ MU) opened at $47.64 on Tuesday. The company has a market cap of $54,940.00, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology, Inc. has a one year low of $18.18 and a one year high of $47.86.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. Micron Technology’s quarterly revenue was up 90.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. equities research analysts forecast that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on MU shares. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price target for the company in a report on Tuesday. Goldman Sachs Group, Inc. (The) upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a report on Tuesday, September 12th. Susquehanna Bancshares Inc upped their price target on shares of Micron Technology from $40.00 to $50.00 and gave the company a “positive” rating in a report on Tuesday, September 19th. UBS AG reiterated a “buy” rating and issued a $53.00 price target (up previously from $39.50) on shares of Micron Technology in a report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $37.00 price target on shares of Micron Technology in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $47.20.
About Micron Technology
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