Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,469 shares of the semiconductor manufacturer’s stock after buying an additional 9,193 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Micron Technology were worth $5,269,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Vanguard Group Inc. increased its stake in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Micron Technology by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 14,005,627 shares of the semiconductor manufacturer’s stock worth $404,753,000 after buying an additional 117,152 shares during the period. Geode Capital Management LLC increased its stake in shares of Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after buying an additional 1,128,565 shares during the period. Amerigo Asset Management increased its stake in shares of Micron Technology by 11.9% in the second quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock worth $241,193,000 after buying an additional 860,000 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock worth $168,310,000 after buying an additional 2,281,331 shares during the period. 80.44% of the stock is owned by hedge funds and other institutional investors.

Micron Technology, Inc. (NASDAQ:MU) opened at 28.01 on Friday. The firm has a market cap of $31.09 billion, a price-to-earnings ratio of 12.30 and a beta of 1.76. Micron Technology, Inc. has a 12-month low of $15.08 and a 12-month high of $32.96. The stock has a 50 day moving average price of $30.24 and a 200-day moving average price of $27.97.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. Micron Technology’s revenue was up 92.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. Equities analysts forecast that Micron Technology, Inc. will post $4.71 earnings per share for the current year.

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A number of analysts have issued reports on MU shares. Credit Suisse Group reaffirmed a “buy” rating on shares of Micron Technology in a research note on Sunday, July 2nd. Robert W. Baird reiterated an “outperform” rating and set a $40.00 price target on shares of Micron Technology in a report on Monday, May 1st. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 24th. Finally, Deutsche Bank AG increased their price target on Micron Technology from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $35.65.

In related news, SVP Brian Shirley sold 27,250 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total transaction of $859,465.00. Following the completion of the sale, the senior vice president now directly owns 292,211 shares in the company, valued at $9,216,334.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP April S. Arnzen sold 1,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $30.75, for a total value of $30,750.00. Following the sale, the vice president now owns 52,542 shares of the company’s stock, valued at $1,615,666.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,250 shares of company stock valued at $1,442,015. 0.69% of the stock is owned by corporate insiders.

Micron Technology Company Profile

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

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