Westpac Banking Corp boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,850 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,238 shares during the period. Westpac Banking Corp’s holdings in Micron Technology were worth $7,624,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Seminole Management Co. Inc. increased its holdings in Micron Technology by 14.5% during the 3rd quarter. Seminole Management Co. Inc. now owns 1,439,174 shares of the semiconductor manufacturer’s stock valued at $56,603,000 after purchasing an additional 182,278 shares during the period. Intact Investment Management Inc. purchased a new position in Micron Technology during the 3rd quarter valued at about $657,000. Crossmark Global Holdings Inc. purchased a new position in Micron Technology during the 3rd quarter valued at about $3,087,000. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Micron Technology by 9.6% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,580,165 shares of the semiconductor manufacturer’s stock valued at $180,137,000 after purchasing an additional 401,028 shares during the period. Finally, Private Capital Management Inc. purchased a new position in Micron Technology during the 3rd quarter valued at about $252,000. Institutional investors own 77.14% of the company’s stock.

In other news, CFO Ernest E. Maddock bought 3,400 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the acquisition, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $32.64, for a total transaction of $97,920.00. Following the completion of the transaction, the director now owns 117,284 shares in the company, valued at $3,828,149.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 330,415 shares of company stock valued at $12,468,675. 0.69% of the stock is owned by corporate insiders.

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Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. Micron Technology’s revenue was up 90.8% compared to the same quarter last year.

A number of brokerages recently issued reports on MU. Vetr downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $42.77 price target on the stock. in a report on Tuesday. Mizuho restated a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Longbow Research restated a “buy” rating and set a $50.00 price target (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Deutsche Bank AG restated a “buy” rating and set a $43.00 price target (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Cowen and Company restated an “outperform” rating and set a $43.00 price target (up previously from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and an average price target of $46.57.

About Micron Technology

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

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