Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 40.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,626 shares of the semiconductor manufacturer’s stock after selling 88,878 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Micron Technology were worth $5,999,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Acadian Asset Management LLC boosted its stake in shares of Micron Technology by 26.9% in the 2nd quarter. Acadian Asset Management LLC now owns 15,287 shares of the semiconductor manufacturer’s stock valued at $801,000 after purchasing an additional 3,245 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Micron Technology in the 2nd quarter valued at $203,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Micron Technology by 12.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49,325 shares of the semiconductor manufacturer’s stock valued at $2,587,000 after purchasing an additional 5,311 shares in the last quarter. Cognios Capital LLC boosted its stake in shares of Micron Technology by 20.2% in the 2nd quarter. Cognios Capital LLC now owns 22,853 shares of the semiconductor manufacturer’s stock valued at $1,198,000 after purchasing an additional 3,838 shares in the last quarter. Finally, Apertura Capital LLC boosted its stake in shares of Micron Technology by 71.4% in the 2nd quarter. Apertura Capital LLC now owns 60,000 shares of the semiconductor manufacturer’s stock valued at $3,146,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 74.14% of the company’s stock.
MU has been the topic of several recent analyst reports. MKM Partners restated a “buy” rating and issued a $63.00 target price (down previously from $77.00) on shares of Micron Technology in a research note on Thursday, September 13th. Deutsche Bank reiterated a “buy” rating and set a $80.00 price target on shares of Micron Technology in a research report on Thursday, September 6th. They noted that the move was a valuation call. Cowen reduced their price target on shares of Micron Technology from $72.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, September 18th. Stifel Nicolaus reduced their price target on shares of Micron Technology from $108.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 21st. Finally, Nomura reduced their price target on shares of Micron Technology from $100.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, September 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and an average price target of $64.82.
Shares of NASDAQ:MU opened at $38.56 on Monday. The stock has a market cap of $43.74 billion, a price-to-earnings ratio of 3.26, a PEG ratio of 0.61 and a beta of 1.69. Micron Technology, Inc. has a 1-year low of $33.82 and a 1-year 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.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The firm had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The company’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 9.86 EPS for the current year.
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About Micron Technology
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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