Brandywine Global Investment Management LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 57.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,099,250 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,501,654 shares during the quarter. Micron Technology makes up 1.0% of Brandywine Global Investment Management LLC’s portfolio, making the stock its 25th biggest holding. Brandywine Global Investment Management LLC owned 0.37% of Micron Technology worth $130,070,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. JNBA Financial Advisors purchased a new stake in shares of Micron Technology during the fourth quarter worth about $28,000. Lavaca Capital LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $29,000. Athena Capital Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $29,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $31,000. Finally, First Personal Financial Services purchased a new stake in shares of Micron Technology during the fourth quarter worth about $32,000. 75.25% of the stock is currently owned by institutional investors.
NASDAQ:MU opened at $39.54 on Friday. The company has a market capitalization of $44.00 billion, a PE ratio of 3.35, a P/E/G ratio of 0.83 and a beta of 1.87. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year 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 posted its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.07. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates 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 last year, the company earned $2.45 EPS. Research analysts expect that Micron Technology, Inc. will post 7.47 EPS for the current fiscal year.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Micron Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, February 18th. Mizuho cut their target price on Micron Technology from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Friday. ValuEngine cut Micron Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. BidaskClub cut Micron Technology from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, KeyCorp cut their price target on Micron Technology from $61.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.19.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://www.americanbankingnews.com/2019/03/17/brandywine-global-investment-management-llc-purchases-1501654-shares-of-micron-technology-inc-mu.html.
Micron Technology Company Profile
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.
Further Reading: Market Capitalization and Individual Investors
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.