Micron Technology, Inc. (NASDAQ:MU) Position Lifted by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,697 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,504 shares during the quarter. Vinva Investment Management Ltd’s holdings in Micron Technology were worth $4,752,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its position in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after purchasing an additional 144,897 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU opened at $102.06 on Thursday. The firm’s 50 day moving average is $96.84 and its 200-day moving average is $98.19. The stock has a market capitalization of $113.71 billion, a P/E ratio of 29.41 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54.

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

Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research report on Monday. Stifel Nicolaus cut their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays cut their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group cut their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.16.

Insider Transactions at Micron Technology

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

Micron Technology Company Profile

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.