ClariVest Asset Management LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 96.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,918 shares of the semiconductor manufacturer’s stock after selling 248,317 shares during the quarter. ClariVest Asset Management LLC’s holdings in Micron Technology were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of Micron Technology by 10.6% during the 3rd quarter. First Trust Advisors LP now owns 2,368,297 shares of the semiconductor manufacturer’s stock valued at $111,215,000 after purchasing an additional 226,395 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Micron Technology by 115.7% during the 3rd quarter. Avantax Advisory Services Inc. now owns 40,648 shares of the semiconductor manufacturer’s stock valued at $1,904,000 after purchasing an additional 21,802 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Micron Technology during the 2nd quarter valued at approximately $1,409,000. Morgan Stanley boosted its position in Micron Technology by 43.3% during the 1st quarter. Morgan Stanley now owns 4,504,010 shares of the semiconductor manufacturer’s stock worth $189,437,000 after buying an additional 1,361,960 shares during the period. Finally, Private Advisor Group LLC boosted its position in Micron Technology by 7.8% during the 3rd quarter. Private Advisor Group LLC now owns 146,757 shares of the semiconductor manufacturer’s stock worth $6,861,000 after buying an additional 10,570 shares during the period. 79.66% of the stock is currently owned by institutional investors.
NASDAQ MU opened at $61.40 on Friday. The company has a market cap of $68.35 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27. Micron Technology, Inc. has a 52 week low of $31.13 and a 52 week high of $62.63. The company has a quick ratio of 1.86, a current ratio of 2.71 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $52.73 and its two-hundred day simple moving average is $49.41.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 29th. The semiconductor manufacturer reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.13. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.54 billion. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. The company’s revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 2.45 EPS for the current year.
Several equities research analysts recently commented on MU shares. UBS Group cut their target price on shares of Micron Technology from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Piper Sandler reiterated a “neutral” rating and set a $45.00 target price (down from $51.00) on shares of Micron Technology in a research report on Wednesday, September 30th. Cascend Securities lifted their target price on shares of Micron Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. The Goldman Sachs Group upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, September 14th. Finally, Barclays cut their target price on shares of Micron Technology from $60.00 to $55.00 in a research report on Friday, August 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.71.
In other news, SVP Joel L. Poppen sold 30,900 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $56.80, for a total value of $1,755,120.00. Following the sale, the senior vice president now directly owns 335,558 shares of the company’s stock, valued at $19,059,694.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 27,640 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $55.00, for a total transaction of $1,520,200.00. Following the completion of the sale, the executive vice president now directly owns 198,808 shares in the company, valued at $10,934,440. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,208 shares of company stock worth $5,488,935. Insiders own 0.18% of the company’s stock.
About Micron Technology
Micron Technology, Inc designs, manufactures, and sells memory and storage products 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, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.
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