Micron Technology, Inc. (MU) Shares Bought by Synovus Financial Corp

Synovus Financial Corp increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.2% in the 4th quarter, Holdings Channel reports. The firm owned 80,074 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,184 shares during the period. Synovus Financial Corp’s holdings in Micron Technology were worth $3,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Micron Technology by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after acquiring an additional 274,086 shares during the last quarter. CI Investments Inc. raised its holdings in Micron Technology by 0.5% in the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after acquiring an additional 35,300 shares during the last quarter. Legal & General Group Plc raised its holdings in Micron Technology by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after acquiring an additional 94,517 shares during the last quarter. Greenlight Capital Inc. raised its holdings in Micron Technology by 89.5% in the 3rd quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after acquiring an additional 2,371,900 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Micron Technology by 26,035.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,756,637 shares of the semiconductor manufacturer’s stock valued at $195,593,000 after acquiring an additional 4,738,437 shares during the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) opened at $44.76 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The firm has a market cap of $51,710.00, a P/E ratio of 7.05, a P/E/G ratio of 0.44 and a beta of 1.62. Micron Technology, Inc. has a 1 year low of $22.64 and a 1 year high of $49.89.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm’s quarterly revenue was up 71.4% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. analysts expect that Micron Technology, Inc. will post 10.12 earnings per share for the current fiscal year.

In other Micron Technology news, SVP April S. Arnzen sold 27,878 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares of the company’s stock, valued at approximately $2,596,833.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. Insiders have sold a total of 174,692 shares of company stock valued at $7,473,967 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on the stock. Wells Fargo & Co reissued a “buy” rating and issued a $54.00 price target (up previously from $45.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target for the company in a research note on Wednesday, October 25th. Finally, Cowen set a $50.00 price target on shares of Micron Technology and gave the company a “buy” rating in a research note on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $55.80.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

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

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