Systematic Financial Management LP Has $13.56 Million Holdings in Micron Technology, Inc. (MU)

Systematic Financial Management LP lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 55.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 329,642 shares of the semiconductor manufacturer’s stock after selling 403,047 shares during the quarter. Systematic Financial Management LP’s holdings in Micron Technology were worth $13,555,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Greenlight Capital Inc. lifted its stake in shares of Micron Technology by 89.5% during the 3rd quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after purchasing an additional 2,371,900 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Micron Technology in the 4th quarter worth $61,747,000. Amundi Pioneer Asset Management Inc. raised its position in shares of Micron Technology by 53.3% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 3,969,870 shares of the semiconductor manufacturer’s stock worth $156,135,000 after buying an additional 1,379,561 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Micron Technology by 174.8% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,126,215 shares of the semiconductor manufacturer’s stock worth $87,430,000 after buying an additional 1,352,435 shares during the period. Finally, AGF Investments Inc. purchased a new position in shares of Micron Technology in the 4th quarter worth $33,950,000. Hedge funds and other institutional investors own 81.34% of the company’s stock.

Shares of Micron Technology, Inc. (MU) opened at $44.90 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The firm has a market capitalization of $51,920.00, a PE ratio of 7.07, a PEG ratio of 0.44 and a beta of 1.62. Micron Technology, Inc. has a 52 week low of $22.64 and a 52 week high of $49.89.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. sell-side analysts predict that Micron Technology, Inc. will post 10.12 EPS for the current fiscal year.

In related news, SVP April S. Arnzen sold 1,222 shares of Micron Technology stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $43.77, for a total value of $53,486.94. Following the completion of the transaction, the senior vice president now directly owns 57,969 shares in the company, valued at $2,537,303.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 27,878 shares of Micron Technology stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The disclosure for this sale can be found here. Insiders sold 174,692 shares of company stock valued at $7,473,967 over the last quarter. Insiders own 0.53% of the company’s stock.

Several research analysts recently weighed in on the company. Cowen set a $53.00 target price on Micron Technology and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Mizuho reaffirmed a “buy” rating and issued a $55.00 target price (up from $50.00) on shares of Micron Technology in a research report on Tuesday, February 6th. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $42.77 target price on the stock. in a research report on Tuesday, October 31st. Finally, KeyCorp raised Micron Technology from a “sector weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.80.

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Micron Technology Profile

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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