IFM Investors Pty Ltd Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)


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IFM Investors Pty Ltd lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 106,737 shares of the semiconductor manufacturer’s stock after buying an additional 13,204 shares during the period. IFM Investors Pty Ltd’s holdings in Micron Technology were worth $8,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sanders Capital LLC increased its stake in shares of Micron Technology by 9.2% during the 3rd quarter. Sanders Capital LLC now owns 29,258,834 shares of the semiconductor manufacturer’s stock valued at $1,498,842,000 after acquiring an additional 2,455,277 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Micron Technology by 35.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 18,026,673 shares of the semiconductor manufacturer’s stock valued at $846,533,000 after purchasing an additional 4,699,280 shares during the period. Himalaya Capital Management LLC increased its position in Micron Technology by 15.8% during the third quarter. Himalaya Capital Management LLC now owns 11,476,523 shares of the semiconductor manufacturer’s stock worth $538,938,000 after purchasing an additional 1,567,100 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Micron Technology by 7.2% during the third quarter. UBS Asset Management Americas Inc. now owns 9,995,052 shares of the semiconductor manufacturer’s stock worth $469,368,000 after purchasing an additional 674,441 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Micron Technology by 6.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 6,664,583 shares of the semiconductor manufacturer’s stock valued at $312,968,000 after purchasing an additional 407,484 shares during the last quarter. Hedge funds and other institutional investors own 71.31% of the company’s stock.

A number of research firms have recently commented on MU. Royal Bank of Canada raised their price objective on Micron Technology from $57.00 to $83.00 and gave the stock an “outperform” rating in a report on Tuesday, January 5th. Smith Barney Citigroup lifted their price target on shares of Micron Technology from $100.00 to $113.00 in a research report on Friday, January 8th. Morgan Stanley increased their price objective on shares of Micron Technology from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, January 4th. Credit Suisse Group raised their target price on shares of Micron Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, January 8th. Finally, Zacks Investment Research raised shares of Micron Technology from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a research report on Tuesday, December 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $84.19.

MU traded up $0.45 during trading hours on Wednesday, hitting $79.91. 14,990,633 shares of the stock were exchanged, compared to its average volume of 27,424,191. The stock has a market cap of $89.39 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The stock has a 50-day simple moving average of $71.97 and a 200-day simple moving average of $55.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 1.86. Micron Technology, Inc. has a 12 month low of $31.13 and a 12 month high of $84.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 3.12 EPS for the current year.

In other news, CFO David Zinsner sold 9,051 shares of the business’s stock in a transaction that occurred on Friday, December 18th. The stock was sold at an average price of $72.17, for a total transaction of $653,210.67. Following the completion of the transaction, the chief financial officer now directly owns 129,214 shares in the company, valued at $9,325,374.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 27,640 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $55.00, for a total value of $1,520,200.00. Following the completion of the transaction, the executive vice president now directly owns 198,808 shares of the company’s stock, valued at $10,934,440. The disclosure for this sale can be found here. Insiders sold 126,705 shares of company stock worth $7,658,336 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Micron Technology Profile

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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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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