Affinity Investment Advisors LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 37.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,239 shares of the semiconductor manufacturer’s stock after selling 31,797 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Micron Technology were worth $1,658,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. James Investment Research Inc. lifted its holdings in Micron Technology by 4.9% during the fourth quarter. James Investment Research Inc. now owns 394,680 shares of the semiconductor manufacturer’s stock worth $12,524,000 after acquiring an additional 18,522 shares during the period. Cedar Capital LLC bought a new stake in Micron Technology during the third quarter worth $242,000. Harvest Fund Management Co. Ltd lifted its holdings in Micron Technology by 83.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,622 shares of the semiconductor manufacturer’s stock worth $164,000 after acquiring an additional 1,649 shares during the period. Gabalex Capital Management LLC lifted its holdings in Micron Technology by 200.0% during the fourth quarter. Gabalex Capital Management LLC now owns 300,000 shares of the semiconductor manufacturer’s stock worth $9,519,000 after acquiring an additional 200,000 shares during the period. Finally, Stonebridge Capital Management Inc. bought a new stake in Micron Technology during the fourth quarter worth $445,000. Institutional investors own 77.64% of the company’s stock.
A number of research firms have issued reports on MU. Needham & Company LLC downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. KeyCorp decreased their target price on Micron Technology from $61.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, December 19th. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine downgraded Micron Technology from a “sell” rating to a “strong sell” rating in a research report on Monday, November 12th. Finally, Zacks Investment Research downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.52.
Shares of NASDAQ MU opened at $38.58 on Tuesday. The firm has a market capitalization of $43.25 billion, a PE ratio of 3.26, a P/E/G ratio of 0.79 and a beta of 1.85. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.15.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.07. The company had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Micron Technology had a return on equity of 48.58% and a net margin of 46.82%. During the same period in the previous year, the business earned $2.45 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 7.7 earnings per share for the current year.
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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