ING Groep NV boosted its position in Micron Technology Inc. (NASDAQ:MU) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,467 shares of the semiconductor manufacturer’s stock after buying an additional 10,487 shares during the period. ING Groep NV’s holdings in Micron Technology were worth $2,028,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. National Planning Corp bought a new stake in Micron Technology during the first quarter worth approximately $135,000. Advisor Partners LLC boosted its stake in Micron Technology by 24.1% in the first quarter. Advisor Partners LLC now owns 17,739 shares of the semiconductor manufacturer’s stock worth $186,000 after buying an additional 3,442 shares during the period. BlueMountain Capital Management LLC boosted its stake in Micron Technology by 5.9% in the first quarter. BlueMountain Capital Management LLC now owns 18,301 shares of the semiconductor manufacturer’s stock worth $192,000 after buying an additional 1,027 shares during the period. Perkins Capital Management Inc. bought a new stake in Micron Technology during the second quarter worth approximately $203,000. Finally, Raymond James Trust N.A. boosted its stake in Micron Technology by 15.1% in the second quarter. Raymond James Trust N.A. now owns 15,131 shares of the semiconductor manufacturer’s stock worth $208,000 after buying an additional 1,986 shares during the period. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology Inc. (NASDAQ:MU) traded down 0.56% during mid-day trading on Wednesday, reaching $17.70. The company’s stock had a trading volume of 67,739,499 shares. The firm has a 50-day moving average of $16.96 and a 200 day moving average of $13.26. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 50.86 and a beta of 1.77. Micron Technology Inc. has a 1-year low of $9.31 and a 1-year high of $19.30.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.12. The business earned $3.22 billion during the quarter. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities analysts expect that Micron Technology Inc. will post ($0.01) earnings per share for the current year.
Several brokerages have commented on MU. Pacific Crest restated a “hold” rating on shares of Micron Technology in a research note on Sunday, June 26th. Nomura upgraded shares of Micron Technology from a “reduce” rating to a “buy” rating in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. decreased their price objective on shares of Micron Technology from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Co. restated an “outperform” rating and set a $22.00 price objective on shares of Micron Technology in a research note on Wednesday. Finally, Stifel Nicolaus restated a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Micron Technology in a research note on Wednesday. Four analysts have rated the stock with a sell rating, six have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $18.31.
In other news, VP Scott J. Deboer sold 31,500 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the sale, the vice president now owns 207,265 shares in the company, valued at $3,533,868.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is owned by insiders.
About Micron Technology
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology Inc. (NASDAQ:MU).
Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.