Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 488,149 shares of the semiconductor manufacturer’s stock after selling 37,592 shares during the quarter. Micron Technology makes up approximately 2.4% of Platinum Investment Management Ltd.’s holdings, making the stock its 14th biggest holding. Platinum Investment Management Ltd.’s holdings in Micron Technology were worth $41,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $135,865,000. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after acquiring an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in shares of Micron Technology in the third quarter valued at approximately $102,018,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein decreased their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a report on Monday. Wells Fargo & Company reduced their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley reduced their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.16.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Stock Down 1.3 %

MU stock opened at $101.72 on Wednesday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market cap of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23. The company has a 50 day moving average of $96.79 and a two-hundred day moving average of $98.16.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.95) EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.