Platinum Investment Management Ltd. Has $716,000 Holdings in Micron Technology, Inc. (MU)

Platinum Investment Management Ltd. decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 71.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,000 shares of the semiconductor manufacturer’s stock after selling 60,700 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Micron Technology were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MU. Vanguard Group Inc. increased its holdings 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 acquiring an additional 4,004,759 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after acquiring an additional 31,616,346 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after acquiring an additional 74,670 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after acquiring an additional 8,834,274 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 acquiring an additional 1,128,565 shares in the last quarter. 79.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Micron Technology, Inc. (MU) traded up 1.71% during trading on Monday, hitting $40.35. The stock had a trading volume of 11,529,603 shares. The company has a market cap of $44.75 billion, a PE ratio of 9.15 and a beta of 1.82. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $40.54. The firm’s 50 day moving average is $34.37 and its 200 day moving average is $30.61.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s revenue was up 90.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post $7.55 EPS for the current fiscal year.

Several equities research analysts have issued reports on the company. UBS AG restated an “average” rating and issued a $36.00 price target (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. BMO Capital Markets upgraded Micron Technology from a “no rating at time” rating to a “market perform” rating and set a $43.00 price target for the company in a report on Monday. Cowen and Company restated an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target (up from $62.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Mizuho restated a “buy” rating and issued a $40.00 price target (up from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $44.41.

ILLEGAL ACTIVITY NOTICE: This news story was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/09/platinum-investment-management-ltd-has-716000-holdings-in-micron-technology-inc-mu.html.

In other news, insider Joel L. Poppen sold 80,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the transaction, the insider now directly owns 266,966 shares of the company’s stock, valued at $10,307,557.26. The sale was disclosed in

A number of other large investors also recently added to or reduced their stakes in MU. Vanguard Group Inc. increased its holdings 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 acquiring an additional 4,004,759 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after acquiring an additional 31,616,346 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after acquiring an additional 74,670 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after acquiring an additional 8,834,274 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 acquiring an additional 1,128,565 shares in the last quarter. 79.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Micron Technology, Inc. (MU) traded up 1.71% during trading on Monday, hitting $40.35. The stock had a trading volume of 11,529,603 shares. The company has a market cap of $44.75 billion, a PE ratio of 9.15 and a beta of 1.82. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $40.54. The firm’s 50 day moving average is $34.37 and its 200 day moving average is $30.61.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s revenue was up 90.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post $7.55 EPS for the current fiscal year.

Several equities research analysts have issued reports on the company. UBS AG restated an “average” rating and issued a $36.00 price target (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. BMO Capital Markets upgraded Micron Technology from a “no rating at time” rating to a “market perform” rating and set a $43.00 price target for the company in a report on Monday. Cowen and Company restated an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target (up from $62.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Mizuho restated a “buy” rating and issued a $40.00 price target (up from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $44.41.

ILLEGAL ACTIVITY NOTICE: This news story was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/09/platinum-investment-management-ltd-has-716000-holdings-in-micron-technology-inc-mu.html.

In other news, insider Joel L. Poppen sold 80,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the transaction, the insider now directly owns 266,966 shares of the company’s stock, valued at $10,307,557.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total value of $119,580.00. Following the transaction, the director now directly owns 114,284 shares in the company, valued at $4,555,360.24. The disclosure for this sale can be found here. In the last three months, insiders sold 314,715 shares of company stock worth $11,480,040. 0.69% of the stock is owned by insiders.

Micron Technology Company Profile

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

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