O Shaughnessy Asset Management LLC Acquires 78,135 Shares of Micron Technology, Inc. (MU)

O Shaughnessy Asset Management LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 368,409 shares of the semiconductor manufacturer’s stock after buying an additional 78,135 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Micron Technology were worth $16,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redpoint Investment Management Pty Ltd raised its holdings in Micron Technology by 3.2% during the second quarter. Redpoint Investment Management Pty Ltd now owns 151,404 shares of the semiconductor manufacturer’s stock worth $7,940,000 after purchasing an additional 4,694 shares in the last quarter. Zacks Investment Management raised its holdings in Micron Technology by 0.3% during the second quarter. Zacks Investment Management now owns 415,827 shares of the semiconductor manufacturer’s stock worth $21,806,000 after purchasing an additional 1,387 shares in the last quarter. Usca Ria LLC raised its holdings in Micron Technology by 16.8% during the second quarter. Usca Ria LLC now owns 18,980 shares of the semiconductor manufacturer’s stock worth $995,000 after purchasing an additional 2,730 shares in the last quarter. Independent Advisor Alliance raised its holdings in Micron Technology by 60.8% during the second quarter. Independent Advisor Alliance now owns 8,443 shares of the semiconductor manufacturer’s stock worth $433,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Cadence Capital Management LLC raised its holdings in Micron Technology by 18.1% during the second quarter. Cadence Capital Management LLC now owns 32,470 shares of the semiconductor manufacturer’s stock worth $1,703,000 after purchasing an additional 4,972 shares in the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

Several research firms recently issued reports on MU. BidaskClub raised shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. ValuEngine raised shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Barclays cut their price target on shares of Micron Technology from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 23rd. Susquehanna Bancshares cut shares of Micron Technology from a “positive” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $45.00 in a report on Tuesday, October 23rd. Finally, UBS Group cut shares of Micron Technology from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.92.

Shares of Micron Technology stock opened at $39.11 on Friday. Micron Technology, Inc. has a 12-month low of $33.82 and a 12-month high of $64.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16. The stock has a market capitalization of $46.43 billion, a price-to-earnings ratio of 3.31, a P/E/G ratio of 0.63 and a beta of 1.69.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 10.19 earnings per share for the current year.

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About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

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