Principal Financial Group Inc. Boosts Stake in Micron Technology, Inc. (MU)

Principal Financial Group Inc. lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 31.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,082,747 shares of the semiconductor manufacturer’s stock after buying an additional 493,767 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of Micron Technology worth $81,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MU. Capital Research Global Investors lifted its stake 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 buying an additional 31,616,346 shares in the last quarter. Janus Henderson Group PLC raised its stake in Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after purchasing an additional 8,834,274 shares during the period. BT Investment Management Ltd purchased a new position in Micron Technology during the second quarter worth about $95,449,000. Pioneer Investment Management Inc. raised its stake in Micron Technology by 298.4% during the second quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock worth $77,347,000 after purchasing an additional 1,940,212 shares during the period. Finally, Marshall Wace North America L.P. raised its stake in Micron Technology by 7,981.1% during the second quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock worth $53,447,000 after purchasing an additional 1,759,521 shares during the period. 75.45% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts have commented on the stock. J P Morgan Chase & Co lifted their target price on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday. Goldman Sachs Group, Inc. (The) raised shares of Micron Technology from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research note on Tuesday, September 12th. Susquehanna Bancshares Inc lifted their target price on shares of Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a research note on Tuesday, September 19th. UBS AG reaffirmed a “buy” rating and set a $53.00 target price (up from $39.50) on shares of Micron Technology in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $37.00 target price on shares of Micron Technology in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Micron Technology has an average rating of “Buy” and a consensus price target of $46.96.

Micron Technology, Inc. (NASDAQ MU) opened at $44.89 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The stock has a market cap of $51,642.76, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.78. Micron Technology, Inc. has a 12 month low of $16.90 and a 12 month high of $45.33.

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. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. Micron Technology’s revenue was up 90.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. equities research analysts anticipate that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

In other news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $32.64, for a total transaction of $97,920.00. Following the transaction, the director now directly owns 117,284 shares of the company’s stock, valued at approximately $3,828,149.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence N. Mondry sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $30.62, for a total transaction of $765,500.00. Following the transaction, the director now directly owns 177,367 shares in the company, valued at $5,430,977.54. The disclosure for this sale can be found here. Insiders sold a total of 333,415 shares of company stock worth $12,602,325 over the last three months. 0.69% of the stock is currently owned by corporate insiders.

Micron Technology Company Profile

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

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