Neuberger Berman Group LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 74.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,098 shares of the semiconductor manufacturer’s stock after selling 336,079 shares during the quarter. Neuberger Berman Group LLC’s holdings in Micron Technology were worth $5,296,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new stake in Micron Technology during the third quarter worth $111,000. First Manhattan Co. grew its holdings in Micron Technology by 211.1% during the third quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 1,900 shares in the last quarter. Truvestments Capital LLC bought a new stake in Micron Technology during the third quarter worth $150,000. Chicago Partners Investment Group LLC grew its holdings in Micron Technology by 496.7% during the third quarter. Chicago Partners Investment Group LLC now owns 3,389 shares of the semiconductor manufacturer’s stock worth $117,000 after buying an additional 2,821 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. grew its holdings in Micron Technology by 666.7% during the third quarter. Sterling Investment Advisors Ltd. now owns 3,450 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.
Several brokerages recently issued reports on MU. Zacks Investment Research downgraded Micron Technology from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. BidaskClub raised Micron Technology from a “strong sell” rating to a “sell” rating in a research report on Wednesday. MKM Partners dropped their price target on Micron Technology from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. KeyCorp dropped their price target on Micron Technology from $61.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 19th. Finally, Royal Bank of Canada set a $40.00 price objective on Micron Technology and gave the stock a “neutral” rating in a report on Monday, December 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $59.52.
MU stock opened at $36.01 on Friday. Micron Technology, Inc. has a twelve month low of $28.39 and a twelve month 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. The company has a market cap of $39.73 billion, a P/E ratio of 3.05, a P/E/G ratio of 0.70 and a beta of 1.69.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.07. The company 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 quarter last year, the company earned $2.45 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 7.94 earnings per share for the current fiscal year.
Micron Technology 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.
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