Blueshift Asset Management LLC Buys 3,251 Shares of Micron Technology, Inc. (NASDAQ:MU)

Blueshift Asset Management LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 46.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,289 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,251 shares during the period. Blueshift Asset Management LLC’s holdings in Micron Technology were worth $866,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harmony Asset Management LLC boosted its stake in shares of Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its stake in shares of Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $569,000. Finally, State Street Corp boosted its stake in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MU shares. Mizuho decreased their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Barclays cut their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Sanford C. Bernstein cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Stock Performance

MU opened at $102.06 on Thursday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $96.84 and its 200 day moving average price is $98.19. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The firm has a market capitalization of $113.71 billion, a PE ratio of 29.41 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.