Paloma Partners Management Co boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 55,581 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,162 shares during the quarter. Paloma Partners Management Co’s holdings in Micron Technology were worth $2,285,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MU. Arrowstreet Capital Limited Partnership lifted its stake in shares of Micron Technology by 26,035.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,756,637 shares of the semiconductor manufacturer’s stock worth $195,593,000 after buying an additional 4,738,437 shares in the last quarter. Greenlight Capital Inc. lifted its stake in shares of Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after buying an additional 2,371,900 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $61,747,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Micron Technology by 53.3% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 3,969,870 shares of the semiconductor manufacturer’s stock worth $156,135,000 after buying an additional 1,379,561 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Micron Technology by 174.8% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,126,215 shares of the semiconductor manufacturer’s stock worth $87,430,000 after buying an additional 1,352,435 shares in the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.
Several brokerages have recently issued reports on MU. Mizuho upped their target price on shares of Micron Technology from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp upped their target price on shares of Micron Technology from $53.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 8th. Nomura upped their target price on shares of Micron Technology and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Thursday, March 8th. Finally, Evercore ISI increased their price objective on shares of Micron Technology from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $57.86.
In related news, SVP April S. Arnzen sold 1,222 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the completion of the transaction, the senior vice president now directly owns 57,969 shares of the company’s stock, valued at $2,537,303.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction 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. Over the last three months, insiders sold 174,692 shares of company stock valued at $7,493,827. Corporate insiders own 0.53% of the company’s stock.
Shares of Micron Technology, Inc. (NASDAQ:MU) opened at $59.43 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The stock has a market cap of $68,650.42, a price-to-earnings ratio of 9.36, a PEG ratio of 0.58 and a beta of 1.46. Micron Technology, Inc. has a 52 week low of $24.93 and a 52 week high of $63.42.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) 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 company’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share. research analysts anticipate that Micron Technology, Inc. will post 10.29 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This story was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://ledgergazette.com/2018/03/14/paloma-partners-management-co-acquires-3162-shares-of-micron-technology-inc-mu.html.
Micron Technology Profile
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.
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).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.