Schwab Charles Investment Management Inc. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,473,699 shares of the semiconductor manufacturer’s stock after buying an additional 54,056 shares during the period. Schwab Charles Investment Management Inc. owned 0.31% of Micron Technology worth $103,725,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. raised its stake in Micron Technology by 31.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 59,042 shares of the semiconductor manufacturer’s stock worth $1,706,000 after buying an additional 14,155 shares in the last quarter. Navellier & Associates Inc bought a new stake in Micron Technology during the first quarter worth about $5,383,000. Retirement Systems of Alabama raised its stake in Micron Technology by 1.5% in the first quarter. Retirement Systems of Alabama now owns 501,065 shares of the semiconductor manufacturer’s stock worth $14,481,000 after buying an additional 7,402 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Micron Technology during the first quarter worth about $643,000. Finally, Courier Capital LLC bought a new stake in Micron Technology during the first quarter worth about $223,000. 80.36% of the stock is currently owned by institutional investors.
Micron Technology, Inc. (MU) opened at 30.69 on Thursday. The stock has a 50 day moving average price of $30.06 and a 200-day moving average price of $28.14. Micron Technology, Inc. has a 12-month low of $15.38 and a 12-month high of $32.96. The firm has a market capitalization of $34.07 billion, a PE ratio of 13.48 and a beta of 1.76.
Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post $4.71 EPS for the current year.
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MU has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research report on Thursday, June 8th. Stifel Nicolaus reissued a “buy” rating on shares of Micron Technology in a research report on Monday, June 26th. Barclays PLC raised their target price on Micron Technology from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Micron Technology from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, June 27th. Finally, Rosenblatt Securities reissued a “buy” rating on shares of Micron Technology in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Micron Technology presently has an average rating of “Buy” and a consensus target price of $35.65.
In other Micron Technology news, CFO Ernest E. Maddock bought 3,400 shares of Micron Technology stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the acquisition, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the vice president now owns 150,232 shares of the company’s stock, valued at approximately $4,807,424. The disclosure for this sale can be found here. Insiders sold 46,250 shares of company stock valued at $1,442,015 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.
About Micron Technology
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